Here's a question I hear all the time, "Do you have any homes with owner financing?". With lending requirements being tougher than ever, more prospective home buyers have been forced to ask this question. In today's market if your credit score is below the mid 600's you will have a hard time finding a bank to lend you money. If you want to buy a home that only leaves one choice - find a home with owner financing.
If only it were a simple thing to find. Just this week, I heard that question, the same question again. "Can you find me a home with owner financing?" So I searched the MLS and here's what I found.
10 listings that offer owner financing:
- 2540 Tyler, 2 bedroom, 1 bath, $44,500, MLS 134001
- 3360 Magnolia 2 bedroom, 1 bath, $45,000 MLS 135838
- 570 Campus, 4 bedroom, 2 bath, $49,500 MLS 135832
- 2348 Pecos, 2 bedroom, 2 bath, $63,000 MLS 127987
345 E Alma, 3 bedroom, 1 bath, $169,900 MLS 135451
5130 Canyon Circle, 3 bedroom, 2 bath, $175,900 MLS 133633
5120 Canyon Circle, 3 bedroom, 2 bath $179,900 MLS 133632
5140 Canyon Circle, 3 bedroom, 2 bath, $184,900 MLS 133634
5110 Canyon Circle, 3 bedroom, 2 bath, $199,900 MLS 133631
2108 Harrison, 5 bedroom, 2.5 bath, $395,000 MLS 136128
That's all. Out of more than 1400 listings in the Beaumont MLS only ten offer owner financing. But before you go out and offer owner financing on your home, you should know there has only been one sale in the Beaumont MLS this year that closed with owner financing. Yes, home owners that can offer financing are picky about who they will finance too.
The one home that closed was on Taft. It sold for $55,000 and had 1024 square feet of living space. So next time you are thinking about buying a home with owner financing, just remember you might have your work cut out for you because its not often offered in Southeast Texas.