Arise Development

 

Owner Financing

OWNER FINANCING AT ARISE


Buying in today's market is an extremely harrowing and challenging experience for the home buyer. Going the traditional route of getting a real estate agent, looking at properties, getting a mortgage broker and submitting offers is in an extreme buyer's market, is not allowing the buyer the flexibility needed to compete effectively and enjoy a better and faster experience of buying. Instead of dealing with the old way, get yourself involved with an experienced investor like Arise that can get you through the process faster by buying one of our Investor owned homes. It is as simple as getting pre-qualified for seller financing from us, reviewing properties we have for you and closing on one of your choice: Now that's a plan. Okay since you might want to know what the traditional status quo process I am refererring to is, here is some more information for you:


It seems everyone knows the standard financing process of buying Real Estate: “Go to a lender, lender checks your qualification based on credit, income, assets and qualifies you based on that criteria and the lender’s guidelines”. Without a reasonably strong combination of the qualification criteria mentioned above (A credit?) , you will likely be denied a mortgage by the lender. In these times, the chances of lender denial is high considering the tighter lending standards.

 

OWNER FINANCING AT ARISE literally increases/surges the odds of being financed for a Real Estate purchase, much higher. In large part, Arise’s Owner Financing Program is used for purchasing single family residences; however owner financing for commercial properties is also available with properties that meet the right standards generally of large equity base, experienced buyer and management. B-C credit buyers selected must be on a fast track plan to increase credit score to B+ and higher.


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OWNER FINANCING PROCESS
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Arise pre-qualifies buyer using either our quick buyer status review for one of our eligible downpayment program or our private investor Income Note purchase program. The latter determines how much $value buyer is qualified for and the terms of the note, generally based on a 10% to 20% down payment (case by case basis). Pre-qualification can occur within 10 business days after a complete package consisting of  a) Pre-qualified work sheet b) 1003 credit application, c) Tri-merge (3 credit bureau scored) credit report. Arise will make available an Arise owned or controlled property to you the buyer once you have been pre-qualified with us. Upon acceptance of this property, Arise's private money will be used to purchase or take a controlling interest in the property to allow the establishment of a seller financed note or applicable mortgage for the buyer up to 90% of the property. The strongest buyers may qualify for our 10% downpayment option.  Buyer will be responsible for the 10% down payment assuming buyer's pre-qualification affords that structure. The buyer receives full title of the property.  The seller financed pre-approval process can generally be completed within 10 business days after document submittal. Closing can occur within 30 days of the selected and approved property.  More people, especially 1st time home buyers can easily purchase a home this way in today's market. Arise often provides a property within acceptable buyer locations to purchase, however, if buyer has identified for purchase, a  property  not previously shown by Arise, Arise can quickly step in with its owner financing or seller assist programs to facilitate  an owner financed transaction and closing. Our Owner Financing program can sometimes provide for the closing costs for the buyer leaving only a down payment requirement from the buyer. It is important to remember that the seller financing to be provided is solely based on the results of the Pre-qualification and the property of choice. So lets get you pre-qualified with us first to get you real answers!!


SUMMARY OF THE PROCESS

1.     Buyer gets pre-qualified for a Quick status review, Stated or Full Documentation program
2. Buyer views Properties and Signs Purchase Contract with Arise
3. Buyer submits down-payment to Escrow and Note, Mortgage or Trust is created.
4. Closing occurs on property and Title or option on Trust passes unto buyer
5. For certain properties and buyer qualifications, a lease option will have to be used until buyer is ready for the purchase or seller financed program.

The NEXT STEP (whether you have a home identified or not) is to contact us now

 

 

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