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Updated over 7 years ago on . Most recent reply

User Stats

79
Posts
69
Votes
Jhoana Olarte
  • Real Estate Agent
  • Houston, TX
69
Votes |
79
Posts

Owner Finance - Looking for a lender

Jhoana Olarte
  • Real Estate Agent
  • Houston, TX
Posted

Hello Community, I have a question if someone has suggestions I will really appreciate it.

I have a client whom is trying sell a house he bought and completely remodeled with his own money. He is considering selling it via owner finance, however, he wants to do a cash-out refinance first. Is there a bank or lender out there that will allow him to refinance the home and subsequently owner finance it to a buyer? 

Please advise.

Thanks 

Most Popular Reply

User Stats

2,851
Posts
2,489
Votes
Rick Pozos
  • Wholesaler, Rehabber and Landlord
  • San Antonio, TX
2,489
Votes |
2,851
Posts
Rick Pozos
  • Wholesaler, Rehabber and Landlord
  • San Antonio, TX
Replied

It is so much easier and cleaner if you just sell outright and let the buyer get their own loan. Seller is done with it, gets his cash back and buyer is getting a 30 year mortgage. Over and done with.

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