Palestine, TX Owner-Financed & Rent-to-Own Homes (No Credit)
The delightful eastern Texas Town of Palestine that’s home to more than 1,800 historic sites which includes the celebrated Main Street District. Like the cities of San Antonio and Lubbock, Palestine has maintained much of its history with classic rail roads, annual festivals, brick buildings, as well as the quaint shops and dining spots. Longtime residents and newcomers stay here (mostly for good) because of the stunning attractions, gorgeous scenic drives, and stately homes that come in varying price points.
Palestine’s proximity to unique attractions and big-city amenities are the biggest draws for people looking to settle into the city. But mortgage approval struggles are not a reason to opt for rent-to-own arrangements. Owner financing in Palestine or anywhere around the 75801, 75802, and 75803 zip code areas will allow you to have all the freedom to browse through the housing market in Webster with no credit requirements, prepayment penalties, and a balloon payment.
This guide will help you learn how to leverage owner-financing to make you get your dream home in Palestine regardless of your credit situation:
NTREIS data last updated September 25, 2023.
Why Buy an Owner-financed Home in Palestine, TX?
Here are a few reasons why you should consider buying a home in Palestine:
- Palestine is home to affordable residential properties with a median listing price of $185,000.
- There are about 180 homes listed on the market. Homebuyers have ample time to choose the perfect home as these properties spend an average time-on-market for average of 70 days.
- Palestine is a foodie’s paradise where locals and tourists alike can enjoy the finest local and international cuisines. It’s also home to one of the oldest bakeries in the state, Eilenberger’s.
- The city’s welcoming vibe and gorgeous scenic drives show that true southern experience that can’t be found anywhere else.
- History and culture live through vintage trains and the Texas state railroad. It offers year-round steam excursions at the Palestine Depot located just a few miles east of Town.
- Palestine is home to some of the most diverse sights and attractions showcasing historical architecture, arts and culture, as well as open green spaces for some outdoor recreation.
- Lubbock has 11 public schools including Southside Elementary, Story Intermediate School, Palestine Junior High, and Palestine High School.
How to Buy an Owner-financed Home in Palestine
If you're looking for financing options outside conventional mortgages, consider third-party owner financing first before checking for other alternatives such as rent-to-own. Owner financing in Lubbock not only gives you the flexibility to choose from any property in the area, but like a bank-approved homebuyer, you get a 30-year amortization period without balloon payments, pre-payment penalties and any other hidden charges.
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