How owner financing works
Buy a home without a bank. We finance the homes we sell, and we don't check credit. You need a down payment and income you can verify.
What is owner financing?
Most people buy a home with a loan from a bank. With owner financing, there's no bank. We are the lender.
We sell the home to you through a contract for deed. You pay us a down payment, then make monthly payments to us over 15 or 30 years, much like a mortgage. Your contract explains when the deed is transferred to you.
Because we make the lending decision, we can say yes to people a bank might turn down.
From finding a home to moving in
- 1
Pick a home
Browse our homes for sale. Each listing shows the down payment and the monthly payment.
See Homes for Sale → - 2
Take a self-tour
Schedule a tour online and see the home on your own time. Some homes are sold as-is, so look closely.
- 3
Apply
Request an application online, or call or text us. We'll send you the application for your home.
- 4
Show your down payment and income
That's what we review. We don't look at your credit history.
- 5
Close at an attorney's office
You sign a 15- or 30-year contract for deed and pay your down payment, like a regular home closing.
- 6
Move in and make it yours
Make your monthly payments to us. From here on, you take care of the home's upkeep and repairs, like any homeowner.
What the numbers look like
Here's one of our current homes, 4335 Donovan Drive in Montgomery. Every home has its own down payment, rate, and monthly payment, and they are all on the listing.
View This HomeMonthly amounts are principal and interest only. Property taxes and insurance are not included. Terms can change, so call to confirm.
Things you should know
We want you to go in with your eyes open.
Rates are higher than a bank's
Because we don't check credit, our interest rates and prices are usually higher than a bank loan. Each listing shows its rate.
Repairs are yours
After you buy, you're responsible for upkeep and repairs, just like any homeowner.
Taxes and insurance are extra
The monthly payment on a listing is principal and interest only. Ask us how property taxes and insurance are handled for your home.
Some homes are sold as-is
If a home is sold as-is, the listing will say so. Tour it carefully before you apply.
Read your contract
Your contract for deed spells out your payments, your responsibilities, and when the deed transfers. Ask the attorney any questions before you sign.
Make payments on time
Your contract explains what happens if payments are late or missed. Know it before you sign.
Owner financing questions
Can I buy if I have bad credit or a past bankruptcy?
Yes. We don't look at credit history for homes we sell with owner financing. We look at your down payment and income you can verify.
How much is the down payment?
It depends on the home. Each listing shows its exact down payment.
Do I need a bank at all?
No. We finance the home ourselves, and you make your monthly payments to us.
Can I rent the home instead?
Some homes are offered both ways. If a home can be rented, the listing will show the rent and deposit.
Where does closing happen?
At an attorney's office, like a regular home sale.
Ready to own a home?
See what's for sale now, or get new homes sent to your phone.
Renaissance Properties is not a bank and does not give legal, tax, or financial advice. Information on this page is general. Your contract for deed controls your terms. Prices, rates, and availability can change.