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Toledo, OH, 43605 • East Toledo • Lucas County
$1/sqft
3Beds
1Baths
1,248Sqft
0.12 acLot
1906Built
Conventional Style
Built 1906 · 120 years of history
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4830 days on market
Established listing
$1/sqft
Price per square foot
Single Family · Built 1906 · Historic
Benefits of Owner Financed homes:1. Easy Qualification. The buyer, in many cases, prefers an installment sale to conventional financing because it does not require traditional bank income and credit approval. The buyer may have poor credit because of a divorce or recent bankruptcy. They may be self-employed or may be new to their job and cannot meet strict traditional mortgage lender guidelines. Even if they could qualify for a loan, the rate will be astronomical if they have poor credit. Furthermore, few conventional lenders offer fixed interest rate loans to people with a poor credit rating. As you can see, there are dozens of reasons why a buyer cannot (or will not) qualify for a conventional bank loan. The installment sale becomes the perfect solution for them.2. Credit Rating. An installment sale may give the buyer a chance to improve their credit rating by owning a home and making payments timely.3. No Loan Costs. One of the biggest benefits for the buyer is not having to pay the costs associated with conventional loans. Points, origination fees, underwriting charges, appraisal, credit reports, title insurance and the plethora of other "junk" fees charged by conventional lenders can amount to thousands of dollars at closing. The buyer is free from these with an owner-carry installment sale.4. Fast Closing. A buyer can close and move into a property within days, since there is no third party lender holding up the transaction.
Based on current rates
Est. 6.75% rate · 30yr fixed · $1,200 loan
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2 schools rated nearby
Toledo, OH, 43605
10 events
24 years of records
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Toledo, OH • Lucas County
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