Who Qualifies for Owner Financing
Who qualifies for owner financing here: buyers with steady income and a down payment. We qualify you on income and down payment, not a credit score.
- No minimum credit score
- ITIN, 1099 and self-employed welcome
- Answer in one conversation
See if you qualify
Takes about a minute. Freddy replies within 24 hours.
- Deed in your name at closing
- No balloon payment
- No minimum credit score
- ITIN holders welcome
What we look for
A lender runs you through a credit box. We look at whether you can comfortably carry the payment and what you can put down.
- Steady income that covers the monthly payment without straining you
- 20% down, figured on the price we negotiate, with exceptions reviewed one by one
- A home priced from $250,000 up
- You're ready to move on it now, not sometime next year
What we don't require
A low credit score on its own won't disqualify you. If you can afford the home, we look for a way to structure it.
- A credit score. Decisions aren't based on credit
- A W-2 job. 1099 and self-employed income both work
- A clean bankruptcy or foreclosure record
- A Social Security number. We work with ITIN holders
- Approval from any bank
Situations we work with every day
Each one has its own guide.
Low or thin credit
A score under 620, collections or no credit file. We weigh your income and savings instead.
Self-employed, 1099 or gig work
Bank statements show what you earn better than a tax return built around write-offs.
Past bankruptcy or foreclosure
No bank waiting period. One hard chapter doesn't decide the answer.
ITIN instead of a Social Security number
An ITIN, steady income and a down payment are enough to start.
Recent job change
Steady pay at a new job counts. We don't require two years with one employer.
Comparing a rent to own offer
If you have a down payment, you can likely own instead of renting with an option.
Who this is not for
Owner financing is a purchase. You become the owner, with the taxes, insurance and upkeep that come with it. If what you want is to rent with a loose promise to buy someday, this isn't the right fit, and we'd rather say so now.
We also can't help when there's a pattern of not paying: several evictions, more than one bankruptcy, or a history of walking away from obligations. Our background check would show it, so it's better to talk about it upfront. One hard year in the past is a different story.
Finally, the program needs a down payment, normally 20 percent, with exceptions reviewed one by one. If you're not there yet, tell us what you have. We can tell you how far off you are.
Check the cash you need before you apply
The two most common reasons we turn someone down are not enough down payment and not enough monthly income. This covers the first one.
The program starts at $250,000 and has no upper limit. Down payments are normally 20 percent, with exceptions reviewed one by one. There's no application or origination fee.
- Down payment (20%)
- Closing costs (2% to 3%)
- Amount financed
Estimate only. Closing costs vary by state and are listed on your closing statement before you sign.
See if you qualify.
A few quick questions. Freddy reviews every request personally and replies within 24 hours.
- The deed is in your name at closing.
- There is no minimum credit score.
- Self-employed and 1099 income both count.
- ITIN holders are welcome.
See if you qualify
Takes about a minute. Freddy replies within 24 hours.
Qualifying questions
What income do I need to qualify?
Enough that the monthly payment, taxes and insurance fit comfortably. We look at your real monthly income and your current bills, not a fixed ratio.
Do you run a background check?
Yes, as part of qualifying. We're looking for patterns like repeated evictions or bankruptcies, not a single hard year.
Can two people buy together?
Yes. Spouses, partners or family members can qualify together, and both incomes can count.
What if I have less than 20 percent down?
Tell us what you have. The program normally needs 20 percent. Exceptions are reviewed one by one, so we'll tell you how close you are and what would get you there.
Does my immigration status matter?
We work with ITIN holders. What matters is steady income, a down payment and the ability to carry the payment.
Ready to stop renting?
Find out in about a minute whether the program fits you.