3 Easy Steps to Buying a Home in Houston with No Credit Check

owner financing steps houston

If you want to buy a home in Houston with no credit check for some reason, owner financing is your best option.

Typically when you apply for a mortgage, your application is vetted on the basis of your credit score. If you have a good credit score, the lender will approve your mortgage application and offer you the best rates and terms. But if your credit score is not optimal, the lender either will reject the application or won’t offer the best rates. Foreclosures or short sale showing up on your credit report reduces your chances of getting a mortgage to almost zero.

In such a scenario, owner financing enables you to buy a home in Houston with no any credit check. In an owner financing arrangement, your purchase is financed by the seller, instead of a bank. You pay a monthly installment to the seller just like you do when you take out a loan from a bank.

The best thing about owner financing is that you can customize financing terms to a great extent. The seller may agree not to take your credit score or financial history into consideration. This is why you can buy a home with no credit check in Houston in an owner financing arrangement.

Typically when you buy a home with owner financing in Houston or anywhere else for that matter, you are required to make a balloon payment after a fixed number of years. There may be pre-payment penalties also. But here at Shop Owner Finance, we work with struggling families and help them buy a home with flexible terms.

You can buy any home you want with no credit check or income verification. You also don’t need to make a balloon payment. There are no pre-payment penalties and you can rebuild credit as your monthly payments are reported to the credit bureaus. You can even refinance from a conventional lender once your credit score is good enough to get a mortgage.

Let’s now discuss how you can buy any home in Houston with no credit check:

Step#1: Arrange for down payment

There are so rules as to how much down payment you need to buy a home with owner financing, but at Shop Owner Finance, we recommend you arrange for a large down payment.

A large down payment will reduce your monthly installment amount. The seller will also take your offer seriously, particularly if you are buying with no credit check or income verification.

Saving for down payment is not easy. Down payment is in fact the biggest obstacles to homeownership for the majority of households in the U.S. If you have arranged for at least 15%-20% down payment, it means you are disciplined with money. The seller or investor will feel more confident when extending financing to you.

Step#2: Find a seller who is willing to owner finance

Your second step is to find a seller who is willing to owner finance a home to you.

This is the biggest challenge that people looking to buy a home with owner finance face. Most sellers want to get all cash up front. They like to sell conventionally. As a result it becomes very difficult to find an owner financed home in Houston that suits your needs and budget.

With Shop Owner Finance, you can buy any home with owner financing. An investor from our network buys the home and owner finances it to you on the same day. The seller is happy because he or she gets the cash up front.

In our system, a real estate agent is assigned to you. He or she shows houses, writes offers and contracts, negotiates the best possible price for you and assists you on all other aspects, at no additional cost to you.

Step#3: Buy your dream home

Once you have arranged for down payment and found your dream home, an investor from our network buys the home on your behalf and owner finances it to you immediately.

You get the keys to your dream home with no credit check or income verification.

Buying a home in Houston with no credit check is possible. As explained above, you can buy an owner-financed home.

We – here at Shop Owner Finance – help struggling families get into the homes of their dreams with this unique financing concept.

We specialize in helping credit-challenged people to buy any home they want with owner financing.

Want to learn more about our services? Check out our FAQ page and visit the Testimonials page to know how we have helped credit-challenged people buy homes of their dreams.

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Araceli and her family relocated from California. Self-employed and unable to qualify for a loan, they used our program to get owner financing on a brand new home.
Referred by her loan officer, Rick, Barbara was able to finally get her dream home on the water in Galveston.
Aicha and her family purchased a brand new 5 bedroom home with owner financing and were so grateful to own a home even better than they thought was possible!

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