Plainview, TX Owner-Financed & Rent-to-Own Homes (No Credit)

Plainview TX Owner Financed homes for sale

The city of Plainview – located approximately 45 miles between the cities of Lubbock and Amarillo – is a hidden gem in Hale County, Northwest Texas that offers an excellent quality of life. The city ranks well in terms of education, diversity, and crime rate with residents (both longtime and recent ones) revering the larger spaces and affordable housing as the top reasons for staying here. While it has a modest size compared to major metropolitan areas, everyone can easily enjoy access to urban conveniences and get around the area at about 15 minutes or less.

Usually, there are about 60 properties listed in the greater Plainview area, with majority of the houses granted to bank-approved buyers. If you’re struggling to secure an approval with a conventional lender, owner financing in Plainview or anywhere around the 79072 and 79073 zip code areas can help you purchase any home in the market without credit checks or income verifications. This arrangement offers a 30-year amortization period and it does not incur additional expenses such as balloon payments or pre-payment penalties.

This guide will help you learn how to leverage owner-financing to make your get your dream home in Plainview regardless of your credit situation:

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Why Buy an Owner-financed Home in Plainview, TX?

Here are a few reasons why you should consider buying a home in Plainview:

  • Plainview reflects one of the most affordable housing markets in Northwest Texas with single-family homes typically valued at $150,000.
  • About 60-65 homes are listed in the market and these properties come in varying layouts, designs, and lot sizes. This means there is an ideal choice for any homebuyer in the area.
  • Plainview has a perfect mix of rural-suburban vibe making it an ideal place for families looking to trade off the dense urban metropolis for a more accommodating space.
  • The city’s modest size and lightly-congested roads make everything around the area accessible in 15 minutes or less.
  • The city has a lower cost of living than most major urban areas round the county or across the state.
  • Plainview also boasts safer streets, reflecting a crime rate that’s 3% lower than the national average.
  • The city is home to an abundance of cultural venues, art galleries, and museums showcasing local artistry as well as Native American artifacts and Victorian-era memorabilia.
  • The local food scene is diverse as it is exciting since there’s quite a few choices for everyone including sandwiches and deli, traditional Mexican food, and old-fashioned Texas Barbecue.
  • The local school system is highlighted by Wayland Baptist University. Some of the top-rated schools include Highland Elementary, Estacado Middle, and Plainview High.

How to Buy an Owner-financed Home in Plainview

Conventional loans remain the primary mode of home financing in Plainview, but not everyone has the eligibility to qualify for one. No-credit-check alternatives such as rent-to-own are a popular option but it limits buyers in terms of inventory and it doesn’t guarantee immediate homeownership either. Owner-financing, meanwhile, has the privileges of conventional loans while giving buyers the flexibility to choose from any home listed in the market. Payments are also reported to major credit bureaus so buyers can rebuild credit and refinance through a conventional lender over time.

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