When the opportunity to purchase property comes, there are several options to choose for financing.
One option is the traditional method, which is securing a loan via a bank or lending institution. However, depending on your financial circumstance, this can be challenging as it requires a high credit score and other assets.
If going the traditional mortgage route doesn’t seem feasible for you, there are other options to purchase property for sale in Edinburg. Learn more from the good folks at Santa Cruz Properties.
The Owner Financing Pathway!
There are several major factors why going with owner financing may make more sense for your particular situation. The following are the most common reasons why this option may be worth exploring, but they do not account for all of them:
1. Inability to secure a traditional bank or lending institution loan but have the means of purchasing property: One may have a bad or rocky history with banks or lending institutions, or simply may not want to go the usual route to secure property. In these cases, owner financing is an excellent alternative.
2. Time crunch on the closing of the property: Because lending institutions or banks are removed from the equation in owner financing loans, closing time on a property can be exceptionally quicker. This allows for quicker usage of the property when necessary.
3. Personalized interest rates and more benefits: Purchasing property via owner financing allows you to work more closely with the seller to determine interest rates and closing costs that are better aligned with your needs. This can be a huge benefit, considering the personal circumstances going into the purchase of the property! Additionally, there may be incentives established between the owner and buyer to encourage paying off the loan in a timely manner.
Owner Financing Explored…Now, What’s Next?
If you are interested in learning more about the benefits and perks of purchasing property for sale in Edinburg via owner financing, do not hesitate to reach out to the friendly and knowledgeable staff at Santa Cruz Properties. We can help provide you with the information you need to make the best decision on whether or not owner financing is the right choice for you.
Reach out to Santa Cruz Properties today to learn more about the best options to meet your needs and situation.