Can you refinance without going thru the purchase process if you already owner finance your home?
Friday, December 4th, 2009 at
3:01 am
I did an owner finance on my home and now want to refinance. Is this possible without going thru credit checks etc.?
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Tagged with: Credit Checks • Owner Finance • Refinance
Filed under: Home Finance
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credit no that will be checked always. Now you must have also paid by check or to a management firm for verification of timely payments plus meet all the other criteria in doing this such as ability to pay the note and the home must appraise as well
I am a mortgage banker in TN
HUH? Owner finance means the owner did the financing which means he took back a note on the property. the owner is probably charging a healthy intrest rate and more than likely will not be giving you a break. that is unless it is gonna blow up in his face meaning the payments are to high for you to handle. By the way you asked about no credit check for a loan. would you lend me 6000.00 i promise I will pay you back. NO????? Yeah I thought so. So why would you expect anybody else to do it????????????
Nope. You have to go thru the entire painfull process if you want a bank to loan you money.
won”t it be fun to see what home appraises for?
Zelfs als een bank oorspronkelijk geleend u het geld had moet u voor kwalificeren herfinanciert. Het huis moet nog worden geschat, hebt u nog goed krediet nodig, hebt u nog goed inkomen, enz. enz. nodig
Als de akte in uw naam is is dit herfinanciert. Als de akte niet is, en ik zeker ben is het niet, dan moet u voor een aankoop kwalificeren.
De aankoop is beter, kunt u voor minder kwalificeren, herfinancier is niet voor meer toen 80% van de schatting.