
Florida Owner Finance: An Alternative to Traditional Financing
As in many other states, Florida allows owner financing.
But what is a Florida owner finance, and how does it work?
Florida Owner Finance: What is It?
Owner financing, which is often called seller financing, is a way for a property owner to sell property without requiring a buyer to get traditional financing, such as through a bank or mortgage company.
Florida Owner Finance: How Does it Work?
Owner financing works because the seller extends credit to the buyer. The buyer and seller agree on the terms, including:
- The interest rate
- The monthly payment amount
- The term of the loan
The buyer then makes payments directly to the seller.
Florida Owner Finance: Could it Be Right for You?
For people who have a tough time securing traditional financing, whether it’s due to bad credit or the inability to come up with the required down payment (or any other reason, really), owner financing can be a great option.
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