More and more potential house buyers find themselves just missing out on traditional mortgage products due to lower credit scores and higher credit standards by lending institutions. Those potential buyers that can meet down payment requirements and have good incomes are still being turned away from traditional mortgage companies due to substandard credit scores. 

As part of the www.OwnerFinanceHQ.com family, We specialize in assisting good families in getting the home of their dreams, even if they can't get conventional financing at this time. 

It's called any of the following: Contract for Deed, Lease Purchase Options, Land Contract, and Owner Financing.

 Have you been turned down for a mortgage because of your credit score? Do you meet these qualifications?

• A minimum of 3.5% down payment but typical requirements are 5%-10%.
• Employed for last 1-2 years.
• Steady and/or increasing income over last 2 years.
• Income must justify house purchase price.

What you’ll need:

• Most recent two years complete tax returns with all schedules.
• Most recent two years W-2's, 1099's, etc.
• Most recent pay stubs covering one month period.
• If Applicable: Self-Employed will need Three years Tax Returns and YTD Profit & Loss Statement
• Proof of down payment funds

The Sellmyhouse.com CredMod Program manages the entire owner financing, contract for deed, or lease purchase process from A to Z utilizing all of its marketing and service resources to help the Seller find a Buyer and convert them into a traditional mortgage. The process includes marketing the property via our CredMod singage, our local Realtor including the MLS (if necessary), and via our national website platforms, pre-qualify the buyer and initiate a contract, and finally, working with the buyer during the contract period to help them secure the long term financing needed to refinance the house via constent management and repair of their financial situation thru credit repair, debt management, financial planning, and/or debt consolidation.

Funding can take place as quickly as 60 days but typical time frames range between 1 to 3 years depending on several factors.It is important to note that this is an expensive process that may involve any combination of an attorney, credit repair, debt consolidation, a Realtor, financial planners, administration processors, private equity sources, and/or other 3rd party service providers. Most of the costs associated with the CredMod Program are paid by the seller at closing. This allows our buyers to use the majority of your cash reserves to meet lender down payment requirements.

The Process:

1. You will be pre-qualified by a SellMyHouse.com Affiliate.

2. Upon completion if the initial screening by SMH, you will go to the pre-qualification stage with our funding partner (s). This is a 1 to 2 week process.

3. Upon acceptance into the CredMod Program, each buyer will sign the appropriate paperwork and begin the process of searcning for a house. The initial stage is a 7-14 day process.

4. SMH will begin searching for a property with you. You will work directly with SMH and our local real estate partners to locate a house in our system that you want to purchase. IMPORTANT NOTE: All program fees/costs are paid by the Seller at each closing. Expenses of this process can include marketing costs, Court Costs, Attorney fees, Realtor fees, Credit Repair, Debt Consolidation, etc. For properties not in our system, the seller must agree to pay SMH 5% of Purchase Price (minimum fee of $5,000) or the fee becomes the requirment of the Buyer paid at closing of the Purchase contract.

5. IMPORTANT NOTE: Properties that are listed with non-SellMyHouse.com Realtors must get approval from the corporate office prior to contractual discussions.

6. When a potential property is located, SMH and/or our local Affiliates will work out the terms with the owner of the property.

7. Once a property is located that fits the criteria and the buyer wants to purchase, SMH will construct a lease option, contract for deed, or owner financing contract between the parties.

8. Contract is typically written at current market value (appraisal). The Buyer can not dictate a ‘low ball’ offer. IMPORTANT NOTE: You can not back out of a purchase contract without loosing your earnest deposit unless the property has a structural defect (inspection shows issues such as poor roof, termites, HVAC, etc.). In this case, we will continue our house search on your behalf.

9. A down payment will be required upon contract acceptance.

10. SMH will begin the process of helping you repair and improve your financial situation over the term of the contract to help you securing funding so you can refinance into a traditional mortgage.

11. When your financial situation improves or at the end of the contract period, SMH will work with you to close the refinance.

Start Here