For those with less-than-stellar credit, owner financing can provide an attractive avenue toward homeownership, bypassing the hurdles of securing a traditional mortgage. If you've always wanted to own a home, you might be wondering how owner financing is different, how it works, and whether it's right for you. SWE Homes makes homeownership dreams a reality for people throughout Texas and Georgia, and they're here to explain the special features of this unique financing structure.

Essentially, owner financing means the seller lends you the money to buy the home. This arrangement carries some obvious advantages for buyers, including:

• Easier Qualification: This is especially true if the seller is willing to work with you or accept non-traditional forms of income verification. The self-employed, in particular, often have a very difficult time securing a mortgage.
• Faster Closing: Without the complexities of the lending process, signing the promissory note and moving in can be a relatively fast and stress-free process.
• Down Payment Flexibility: Banks might require a 20% deposit, or you could try to qualify for an FHA program, but with owner financing there may be no down payment at all.

While many of these benefits are extremely attractive to those who will likely not qualify for a standard mortgage, you should be aware that the interest rates will likely be higher, and you may be responsible for a large balloon payment after a few years. Even with owner financing, buying a home is likely the largest financial commitment of your life and a decision that should be taken very seriously.

Over the years, SWE Homes has helped thousands of families realize their dream of homeownership, many of whom had poor or no credit. Visit their website now to see the broad range of owner financed homes available, or call (713) 413-1000 to learn more about how they can offer you a path to homeownership today.