Austin Real Estate Update

Just because you have been turned down for a loan doesn't mean you can't buy a house.  Have you heard the old saying, "Where there's a will there's a way."

In the past buyers in Austin, Cedar Park, Leander, Pflugerville & Round Rock Texas did a Rent to Own, Lease Option or Lease Purchase.  These were all great ways to home ownership.  However, the buyer never had true control over the property.  This means if the owner quit making payments on their mortgage or a lien of some kind got attached to the property, the buyer would lose their money and opportunity to own a home.

Now there's only 4 ways to buy a home.  True owner financing where the owner actually owns the property out right, cash, bank financing & mortgage wraps.

In todays market, if someone says they will sell their home with seller finance 99% of the time they mean a mortgage wrap.

A mortgage wrap actually gives the buyer true ownership.  In other words, the title goes into the buyers hands.  In most cases the buyer will put down 10% to 20% and assume the selleer's payments.

For more information, click here.