There is a bump in price to do this. For example, if you find a house that you like for $80,000, we would purchase it and then re-sell it to you for $100,000. We can do all the way up to 30-year notes. You can cash us out at any time, there is no pre-payment penalty. On a typical $100,000 house sale on owner finance, the numbers would look like this: Purchase Price: $100,000 Down Payment: $15,000 Loan Amount: $85,000 Interest: 10% Term: 360 Months Monthly Payment (Principal + Interest): $745.94 |
On a $50,000 house, the numbers would look like this: Purchase Price: $50,000 Down Payment: $7,500 Loan Amount: $42,500 Interest: 10% Term: 360 Months Monthly Payment (Principal + Interest): $372.97 |
Preferable homes under $200,000 unless you have a larger down payment. The taxes and insurance are extra and not included in the above pricing because they vary quite a bit from house to house. Typically, for this price range of houses, we use $100 - $200 for taxes and $50 - $80 for insurance. |