I plan to offer owner financing to others that can't get a loan.

I got my realtor license in 2021, and that same year, we purchased three single-family homes using investor loans.

Most non-FHA loans will require at least 15% down but you'll have to have amazing credit.

Quote from @Jaycee Greene: Assuming you pay asking price, I'd estimate the down payment for something like that using a hard money loan (HML) would be around 40% of the purchase price and your monthly payment would be $2,600 with an interest rate in the low 7% range (probably need a 700+ credit score to get that).

From my experience, you can use that savings to house hack with an FHA loan, invest in a turnkey property in a more affordable market, or even partner with others to expand your purchasing power.

Unlike a mortgage the interest on your loan will not be tax deductible.

Be sure your lender is comfortable with this, as many fear giving folks primary loans for properties they view as having a high probability of being turned into a purely investment.

But it’s something I tailor the business plan to just in case.So your investor could get caught in having their loan called with not a lot of notice if things change.

I've been self-employed for only 6 months, and loans are proving difficult to come by despite my great credit (not to brag, I'm moreso frustrated and seeking help).

In response to your original question, closing agents should handle private loans just like a bank loan.