Who are you? What is SEP Financing all about?

SEP Financing is an Owner Financing marketplace. We offer a place for Owners to list their properties for sale if they are considering financing the purchase for the buyers. This can be a great alternative for both buyers and sellers because it allows flexibility for the seller and an opportunity to purchase a home without bank approval for the buyer. Real Estate has gotten expensive the past few years, and that doesn't mean that any of the homes on our marketplace will be "cheap." But having flexible options that allow buyers and sellers to work out a deal that works for everyone is an important piece of the market that has been lacking the past few years. 

​

When I Buy the House with Owner Financing, Do I Own the Home? Is There a Closing?

Yes, we close at a local title company, where you’ll receive the deed—just like any standard home purchase. You own the home, and we simply hold the promissory note and deed of trust or mortgage, just like the bank would.

​

Can I Make Changes to the Home?

With owner financing, absolutely. Since you own the property, you’re free to make any modifications you wish. Our only concern is that payments are made on time. If you purchase in a different way, like a lease option or contract for deed, there could be more restrictions. When in doubt, just as the seller! But if you get the deed, it is your house and no one can tell you what to do with it!

​

What is the Interest Rate and Down Payment?

Contact us directly for details regarding the rate and down payment, as they can vary based on the property. Seller Carry notes, another term for Owner Financing and Contract for Deed, are typically a little higher rate than an interest rate that a bank might charge for their average loan. Typically an Owner Financed borrower is not the average person that a bank may loan to. They may be self employed, have an ITIN, have income that can be difficult to prove because it is based on commission or 1099, have bad credit, or just really love the house that they found advertised online. We typically get around 10-20% down payment when we sell with Owner Financing. The higher the down payment, the lower the monthly payments will be. 

​

I’m Interested and Have a Reasonable Down Payment. How Do I Schedule a Viewing?

If you are interested in scheduling a home tour, just send us a message with your down payment amount and monthly income. We would need your gross income, so the amount you are paid before taxes and insurance. If you meet the criteria, we’ll arrange a time for you to view the property. Our goal is to show as many people the home as possible. So don't be shy, come out and see us!

​

I Have Bad Credit. Do You Check Credit Scores?

We believe that income, cash flow, and the ability to save a strong down payment matter more than credit scores. As long as you have a reasonable down payment and can show sufficient income to afford the home, we do not run a credit check. A credit check may be required for some houses or some purchase options, like rent to own or lease option. But our typical Owner Financed seller is not running a credit check.