Buy a Home – FAQ’s

Do you arrange owner financing for the homes you sell?
Yes, we sell many homes with owner financing.

Do I need to qualify to buy a home?
We are not interested in your past credit issues. Your ability to make reasonable monthly payments and your desire to be a homeowner now is what is really important to us.

How can I buy a home when I have bad credit?
You can’t through conventional lenders, but you can with our help. We personally finance you (we use our own money) through our owner financing program. So we don’t have to answer to a bank when we are financing you. We also put you in touch with the right to people to improve your credit.

How much of a down payment will I need?
That depends on the price of your home. Here are some rough estimates:

Sales Price Down Payment
$100,000 $5,000
$150,000 $7,500
$200,000 $10,000
$250,000 $12,500
$300,000 $15,000
$350,000 $17,500
$400,000 $20,000

Typically our down payments are 5% of the sales price and are a minimum of $5,000.

In some cases, we can also make special arrangements for you to make a series of payments until the down payment is paid in full.

Can I borrow the down payment from a family member or other source?
Absolutely! Unlike most lending institutions, we accept borrowed funds for closing. If you have a close friend or relative willing to lend you money for your down payment, you can use that with our program. You may also be eligible to withdraw or borrow from your 401K to purchase a home without penalties. Depending on the home, we also accept trades.

Do you offer down payment assistance programs?
Unfortunately, we do not. Receiving your down payment is our only security so we must receive the full down payment in advance.

What if I have more than 5% to put down?
You can put down as much as you want. Putting more money down will lower your monthly payments.

What happens to my down payment money?
100% of your down payment money is applied towards the purchase price.

What if the property taxes go up?
You pay the property taxes and the property insurance. If they go up, they are your responsibility. You will also be responsible for the cost of utilities and any homeowner association dues. You will also need an insurance policy for your personal possessions.

What kind of improvements can I make?
The home is yours. You can make any improvements, however we require that you notify us and obtain any required local permits and follow the proper building codes.

Can we build a deck or fence?
Like I said above, we want you to make those improvements. You should enjoy the benefits of home ownership.

Will the price of the home go up?
Great question…the answer is no. The price is listed in the contract and doesn’t go up.  There won’t be any surprises.  By freezing the price of the home, you won’t be “shooting at a moving target” when you talk with lenders to get refinanced.

What closing costs, fees and points should I expect to pay?
We pay all closings costs and fees. We do not charge points.

How soon can I move into one of your homes?
We only show homes that are currently available. So if you see one of homes you can move in immediately. We will continue to notify you of homes that we have available. However, be sure to let us know of your specific needs so that we may contact other investors for properties that meet your desires.

What is the interest rate?
Your interest rate will be anywhere from 8% to 9%.

I love the home, what is the next step?
Go here and fill out our Buyer Information Sheet. You will then need to meet with us to sign paperwork and make a deposit to get the ball rolling. Deposits are typically 20% of the down payment amount. Please keep in mind that our homes go quickly, so time is of the essence.

The home I wanted has been sold, can you find me another one?
Sure. Just join our notification list so that you can be the first to know of new properties!

Your program is unique, should I tell others?
We provide a $500 finder’s fee to you if you refer someone to us that buys one of our homes. When they buy the property, we’ll send you the fee.

Why should I own a home instead of renting?
A home is an investment.  If you have always been a renter, think about that check you write every month.  This is money that is gone forever!  Tens of thousands of dollars that you will never see again.  Its time for your money to start working for you!  When you own a home, you can deduct the cost of your mortgage loan interest from your federal income taxes, and usually from your state taxes as well.  This saves you a great deal because the interest you pay will make up most of your monthly payment for the first few years of your mortgage.  Additionally, you can deduct the property taxes you pay as a homeowner!  Finally, as you make improvements to the home, whether it is new lighting fixtures or window treatments, you can increase the value of your home, instead of increasing the value of your landlord’s property.

What will your service cost me?
Nothing!  You will not pay us any fees or commissions at any time!  As investors, our reward is finding a buyer for our homes and the satisfaction of helping another proud homeowner!