Will owner finance with 20% down.
10% interest on a 20 year amortization. No balloons or prepayment penalties. Easy to qualify. Your down payment is the biggest criteria. We do need to verify you have the ability to pay but its pretty easy.
You will need additional money for closing costs:
Residential Mortgage Loan Orginator (RMLO)- you will pay them directly. The fee is somewhere close to $750. This is required by Government.
You will need to prepay first years insurance. You will need to get quotes
Escrow Reserves – 2 months for insurance and 2 months of taxes.
Loan servicing set up fee $100 plus $35 monthly fee to process your payments.
Closing Costs with title co – Roughly 2% of sales price.