An alternative to a traditional bank loan
In an Owner Finance transaction, the seller finances part or all of the agreed purchase price. The buyer makes a down payment followed by monthly payments under the terms established in the transaction documents.
Important terms
Not every transaction is the same. Review and understand every number before making a commitment.
- Purchase price
- Down payment amount
- Interest rate
- Monthly payment
- Length of financing
- Taxes, insurance, and maintenance responsibilities
Work with professionals
Contracts and documents must be prepared correctly. Consider consulting legal, tax, or real estate professionals when needed. Clarity from the beginning protects both buyer and seller.