That depends on the type of owner financing: In either scenario, owner financing requires a legal agreement captured in writing. In most cases, these lending scenarios use a promissory note.

Owner financing is a home financing deal in which the seller of the property acts as the mortgage lender, providing financing to the homebuyer. The buyer and seller must come to an agreement on ...

See how we rate mortgages to write unbiased product reviews. Owner financing refers to an agreement where a home seller provides the financing for a home purchase. This type of loan can be a ...

That said, owner-financed homes can be complex and necessitate a written agreement—so it’s important to understand the process before signing on the dotted line. We’ll walk you through how ...