Q & A - Owner Finance Homes in Odessa TX

Owner financed homes are a rare find in Odessa TX. Out of over 300 homes for sale in the MLS, only a little over 1% offer this finance option. With this in mind your chooses are limited; so you will need throw out the "wish list" and focus on "must have".

I am assuming that your are focusing on homes financed by the seller becauseyou have been turned down for a mortgage loan. Today's owners who are willing to finance are expecting larger down payments ($15,000 & more), charge a higher than market interest rate and many will only finance short term (usually only 2-3 years). This means that you will not only have to make monthly payments but you also need to get credit worthy because your loan note will become due and payable at the end of the loan period.

All this said, if you want the best deal:

Get into credit counseling - they can help you rebuild your credit.
Hire a good Realtor who can advise you on all your options and which is best for you.

Be patient, pay every bill on time and save as much money as possible in the mean time.

Donna Edwards, Realtor 432.934.4439
http://LivingOdessa.com
www.DonnaSellsOdessa.com