How to Qualify for Owner Financing

Qualifying for Owner Financing is easy once you know the secret.

Hey guys demon’s heart foxy home buyer come to you from my home office here and i just wanted to do a little quick video today on how to qualify for owner financing it’s every day that i get a call on one of our properties actually was yesterday and the first question either the clients mouth was hey man uh you know how do i qualify for this thing and i said to him

It’s really simple you know you gotta show me that you’re able to buy my house well what does that mean you know back in the day when i was in the mortgage business if you know anything about medicine mortgage business right out of college and we used to have this acronym for how to qualify people and it was ice right those three things income credit and equity

Okay so your banker is now out there if your qualifying for a mortgage or you know anyone’s buying for mortgage they look at ice it’s still working today even the 2005 be on income they want to make sure you’re making enough to prepay credit okay so they want to make sure your credit history fits within the parameters the box that every bank or banker needs to fit

You into the fit into their finance program and then equity and that’s usually equity is the cash equity is really just how much you are gonna hold on a property versus what it’s going to be worth so when you’re looking at equity to equity when purchasing a property all that is is talking about your down payment so if you’re putting twenty percent down that means

See also  The Funniest Accounting and Finance Jokes Ever! - TRY NOT TO LAUGH

You have twenty percent equity right and so on and so forth so that’s really how it works in the end of you know traditional world but it will don’t want to find that thing it’s a little bit more simple okay and it works kind of like this this is just one this is a simple acronym and it’s see a sh and that’s cash cash that’s how you qualify for owner financed homes

And adds cash now how does that relate to the same acronym that i segment and most just that simple cash kind of proves a lot of points in owner financing for anybody that’s trying to sell a property okay if you have enough cash then you can show me your income if you have cash you can show me your equity and in the world of 10 finance credit doesn’t really matter

So much because if you can show me that you can repay me i can use my own common sense to determine if i want to extend you my credit so if you can come up with enough cash that’s your number one way to qualify for an owner finance deal okay cash still king still america so if you like what you just saw go ahead and subscribe i would love to hear if you want to

Know more about this topic i’m doing content all the time and i’m putting out information here that will serve you and help you make the smart move so thanks for tuning in get with me please connect with us and i can’t wait to talk with you on the next one in the meantime go get some cash and get some owner finance deals till then you good

See also  Finance Tips | What is DeFi? What Does Decentralized Finance Actually Mean?

Transcribed from video
How to Qualify for Owner Financing By Foxy Home Buyer