WE ARE THE OWNER FINANCE SPECIALISTS

"No Other Real Estate Brokerage Offers More Options For Owner Finance Homes Than City Group Properties."


No Gimmicks or "Programs".   No Fees.   Just Honest Help Finding an Owner Finance Home.

We have access to Seller Financed Homes, plus we can connect you with Lenders that can offer approvals similar to Owner Financing, so you could possibly CHOOSE ANY HOME ON THE MLS.

We Are A Full Service Licensed Real Estate Brokerage and Members of The National Association of Realtors, We Take Our Code of Ethics Seriously.

Self Employed Borrowers

With Over Two Decades of Experience, We Have Helped Hundreds of Self Employed Home Buyers and Families with Credit Issues Find Owner Financed Homes.

Seller Financing

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Tax Liens?


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How Much Do You Have For A Down Payment?(20% Down Payment Typically Required For Owner Financing)

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QUESTIONS AND ANSWERS ABOUT HOW OWNER FINANCING WORKS

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CHECK OUT SOME MORE ARTICLES AND VIDEOS FROM OUR AGENTS ON OWNER FINANCING BELOW

Home Loans for the Self Employed

Self Employed Home Buyers

It's Tough to Get Home Loans For Self Employed Borrowers.

We know! Real Estate Agents are Self Employed Too! We are in the same boat as you.

The problem with getting a home loan when you are self employed is that the banks determine your income based on your net taxable income on your tax returns. That means if you take a lot of expenses or deductions, you may have trouble getting a loan from a bank. The good news is that with Owner Financing, your income will be determined by your bank statements, not your tax returns. This gives you the opportunity to show what you actually make based on your deposits.

How Does Owner Finance Work

How Does Owner Financing Work?

What is Owner Financing?

It simply means that the Seller is Financing the Home, not a bank. If an owner finance purchase is done correctly, it would be no different than any other home purchase, with the only exception being that the seller is the lender. This means that the buyer will have an opportunity to do inspections on the property before purchasing, just like any buyer would when purchasing a home. This also means that the transaction will be closed at a major title company, just like any good real estate transaction should be. Once the transaction closes at the title company, the buyer takes title to the property and the seller is no longer the owner, but they are now the financier and they have a first lien position, just like a bank would.

And it should be that simple. Unfortunately, there are many companies these days that charge upfront fees and have created owner finance programs to decieve buyers in to entering risky transactions such as wrap mortgages. There are also investors and sellers that would look to take advantage of owner finance buyers by using their attorney instead of a major title company to hide issues with title.

At City Group Properties, we pride ourselves on ensuring that the transaction is done correctly. Not only do we assist in finding a great home in a great area offering good owner finance terms, we also make sure that our buyers have a chance to conduct inspections and close every transaction at a major title company which ensures that the buyer is provided with title insurance for their new home.

There are a lot of investors, companies, sellers, and real estate agents that offer owner financing, but many either don't understand how to correctly conduct an owner finance transaction or worse, are looking to take advantage of buyers who are looking for assistance. With 20 years of experience in owner financing, we do not compromise when it comes to negotiating an owner finance transaction. We make sure it is done right, or we find you another home with a seller that is willing to do the deal the correct way.

Seller Financed Homes For Sale

Home Buyers with Credit Issues

We've all had to deal with the problems life throws at us from time to time. That doesn't mean you don't deserve a home.

Owner Financing is not based on your credit. Because it is not based on credit, sellers typically ask for a higher down payment, usually around 20% down, to satisfy the risk they are taking for financing the property. In our opinion, if you have been financially responsible enough to save up 20% for a down payment, you deserve a house, regardless of what your credit score is. You should be proud of yourself for the discipline it takes to save up that amount of money. There are many home buyers out there with great credit and no money to put down, and they are getting loans for a home, so why shouldn't you?

City Group Properties Owner Finance

Why I Am Passionate About Owner Financing.

I have been self employed since I was 14 years old and I thought it was the coolest thing ever, until I turned 18 and tried to obtain a lease.  I might as well have been unemployed when it came to filling out any type of application.  Later in life, I would find that the same was true as a self employed borrower attempting to get a loan for a home.  Banks just do not understand self employed borrowers, period.

My name is Alexander DiSaggio and I am the perfect candidate for an owner financed home.  I am not only a real estate broker for a firm who specializes in owner financing, I am also an owner finance client.  That is the reason why I am so passionate about helping out my fellow self employed brothers and sisters.  As the broker of City Group Properties, we have focused on helping self employed borrowers obtain owner financing for over a decade, and we love it!

So the first question is, why owner financing? 

The simple answer is: so you don't have to deal with the banks!  Even if you are the perfect borrower, getting a loan through a bank is extremely time consuming and stressful. If you are self employed or have any credit issues, it is that much worse. 

Owner financing can be relatively stress free, "if" you know what you are doing.  Plus, these transactions can close in as little as 2 weeks. 

BE CAREFUL: I found out early on that there are some very compromising characters in the owner finance world that have no problem putting themselves and buyers at risk when conducting these transactions.  I do not believe in compromise, you either do something right or don't do it at all.

So what do you need to look out for? 

First, you want to make sure you have a real estate agent that understands owner financing and does these type of transaction often. 

Owner financing is NOT taught in real estate schools and there are a lot of real estate agents working on these type of transactions that really don't understand much about the deal.  That is not good.  You need a knowledgeable agent to represent your interests on these transactions.  You also want to make sure you have a real estate agent who cares more about you than about their commission.  They have to be willing to say "NO" to a deal if the seller is not doing it right.  In my experience, 7 out of 10 owner finance homes that I find on the market are not being structured in a way that we would allow our clients to move forward in the transaction.  In our opinion, there are a lot of sellers and agents that are simply putting themselves and buyers at risk by not conducting these transactions correctly.

Second, never "trust" the seller, or anyone in real estate, for that matter.  Real estate should never be about "trust", it should always be about contracts, everything should be in black and white, and above all, everything should always make sense.  If it doesn't make sense, run.  When you add trust in to real estate, you are setting yourself up for disappointment.

Third, watch out for "wrap" transactions.  This is a hotly debated topic that I go head to head with a lot of agents and sellers on.  Again, it boils down to "risk" and "compromise".  A wrap transaction means that the owner of the home will still have a mortgage on the property when they owner finance the home to you, and therefore your owner financed loan will "wrap" around their existing mortgage.  The issue is that their existing mortgage has a "due on sale" clause, which means when they sell the property, their mortgage is due and payable at that time per their loan.  Many agents and sellers will still conduct these transactions and argue that the bank will not call the note due.  They will state that they have done dozens of these deals and that the bank has never called the note due.  Regardless of whether their statements are true or not, the simple fact is that the clause is still in the seller's mortgage and they could call the note due after the owner sells you the property.  If the owner does not have the money to pay the remaining balance, the bank could foreclose on the home.  Whether there is a 1% risk or a 100% risk, it is not a risk I am willing to take personally, or with my clients.  

Fourth, the typical terms of an owner finance transaction will include much higher down payments and higher interest rates than a typical bank mortgage. However, if you have a good real estate agent and a good lender, you should be given a strategy to prepare for refinancing in to a lower interest rate as soon as possible.  

Bottom line: Owner Financing is great option for buyers who don't want the stress of dealing with banks and are ready to move in to a home quickly, however, you have to make sure you are working with a real estate agent who truly understands owner financing transactions and can mitigate the risks of dealing with sellers that do not want to structure the deal correctly.  Sellers are usually offering owner financing because they want to sell their home quick and make money from the interest, but there are sellers that are offering owner financing for other reasons that you need to be aware of.

I love owner financing and our clients love owner financing, but that is because we refuse to compromise and always make sure the deal is done right.  I hope this helps someone make a wise decision when purchasing their next home.

Owner Financing Explained.

In this video, Alexander DiSaggio, one of the City Group Properties brokers, explains what Owner Financing is, how Owner Financing Works, and what to watch out for when purchasing a home using Owner Financing. It is our goal at City Group Properties to educate all of our home buyers about Owner Financing to make sure that their home buying purchase is a good one.


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