Canyon, TX Owner-Financed & Rent-to-Own Homes (No Credit)
Canyon is a sought-after neighborhood located just a little over 18 miles south of the Amarillo Metropolitan area. Longtime locals cite convenience and laid-back vibe as the reasons for calling this Amarillo suburb their home. According to the 2020 Census, Canyon has a population of over 16,000 residents.
Many buyers struggle with loan approvals due to poor credit or unverifiable income. If you’re looking for alternatives to a conventional mortgage, you may consider third-party owner financing in Canyon or anywhere around the 79015 and 79016 zip code areas. This arrangement allows you to choose any single-family home listed for sale in the area as long as it’s in a loanable condition.
This guide will help you learn how to leverage owner-financing to get the home of your choice in Canyon regardless of your credit situation.
Why Buy an Owner-financed Home in Canyon, TX?
Here are a few reasons why you should consider buying a home in Canyon:
- Canyon features diverse home designs with prices ranging from $250,000 to upwards of $1,750,000.
- An average of 200 homes are listed on the market, so homebuyers can easily find a home that fits their budget, need, or preference.
- Canyon is one of the fastest-growing suburbs in West Texas with 2,000 new residents coming in every year. New restaurants, shops, and other businesses are setting up shop in the area.
- Apart from housing, this Amarillo suburb is also known for affordability with the cost of living estimated 5% lower than the state average and 13% lower than the national average.
- It’s a classic American small-town where people get to know each other through community festivals from local music fests to 4th of July barbecue parties.
- While the public transit system is still underway, it is easy to get around the town.
- Canyon is home to several top-ranked schools including Crestview Elementary, Canyon Junior High, and Canyon High.
How to Buy an Owner-financed Home in Canyon, TX
Owner financing allows you to buy a property in Canyon or anywhere in Texas if you’re self-employed, a foreign national, or both. If you’re struggling to secure approval for a conventional mortgage, you can opt for this arrangement since it offers fixed monthly rates, a 30-year amortization period, and the opportunity to rebuild your credit over time.
Interested in learning more? Set an appointment with us today!