U-pick the home, We provide the financing!
What is Seller Financing?
- The seller provides the financing for the Buyer to purchase a home instead of a traditional bank
- A reasonable down payment is usually required
- A bank isn’t involved
- Credit score is not a factor
·
With seller financing, also called owner financing, the seller provides financing to the buyer instead of a traditional bank providing the financing. This method is preferred by those buyers who may have a difficult time qualifying for traditional bank financing as it sidesteps the need for a mortgage. Buyers attracted to seller financing are often those finding it difficult to get a conventional mortgage, perhaps due to poor credit or unverifiable income. Our seller financing program is more flexible than bank financing. Typically, if the Buyer can afford the monthly payments and has a sufficient down payment the Buyer is likely to be approved for our financing.
What is U-PICK Seller Financing?
The Buyer chooses the home they want from ANY home listed for sale in the MLS.
Our Company then purchases that property and sells to the Buyer with seller financing.
U-pick Seller Financing Overview
U-pick Seller Financing Program Overview. Learn how to use seller financing to purchase ANY home for sale, not just the select few already offers seller financing.
Why use U-PICK Seller Financing
Only 2% of homes listed for sale in the Phoenix MLS are offering seller financing. That means 98% of homes for sale are NOT offering seller financing.
- Our U-pick program allows buyers who need seller financing to purchase ANY home for sale – opening up seller financing from 2% to 100% of homes for sale!
- Buy the home of your choice - you pick the home! - We provide the financing.
- Choose any home listed for sale in the MLS (bank owned, short sale, traditional sale)
- The price of the home is increased based on the purchase price you choose.
How the Program Works
1. Get pre-approved for the program
2. Applicant review for program eligibility
2. Applicant review for program eligibility
First, get pre-approved for the program and agree to the financing terms.
2. Applicant review for program eligibility
2. Applicant review for program eligibility
2. Applicant review for program eligibility
We will review your application for program eligibility. The program is not credit score driven. It is based on your ability to afford the payments and your down payment.
3. You select any home in the MLS
2. Applicant review for program eligibility
4. We buy the home in our name- for the best price possible
You select any home for sale (bank owned, short sale, foreclosure, traditional MLS listing). We assign an approved real estate agent to work with you just like a traditional real estate agent would - sending you listings, searches, showing you properties, etc. You can also use your real estate agent provided they agree to the terms of our program.
4. We buy the home in our name- for the best price possible
4. We buy the home in our name- for the best price possible
4. We buy the home in our name- for the best price possible
When you find the home you like, we buy the home in our name - for the best price possible (with any savings passed on to you). You determine our offer price with our assistance.
You complete all the inspectionsso you are satisfied with the condition of the home.
5. Purchase price increase
4. We buy the home in our name- for the best price possible
6. We sell to you with seller financing
- Our purchase price is the "base price" of the home.
- The base price is then increased 7% to 15% based on the price increase chart below.
- The home is then Sold to the Buyer at the base price plus price increase
- Financing is provided based on the 30 year amortized mortgage with the financing being paid off, through refinancing or selling, within 7 years
6. We sell to you with seller financing
4. We buy the home in our name- for the best price possible
6. We sell to you with seller financing
We sell the home you chose to you with seller financing based on the following terms:
- 10% or greater down payment from you.
- Our financing with interest rates starting at 5.99% interest.
- Closing occurs through a traditional title company.
- Independent account servicing company collects payments from you on a monthly basis.
- You get the tax benefits.
Price Increase and Interest Rate Table
How to Start the U-Pick Process
First: Get Pre-Qualified
Our program is not credit driven or income driven, but we need to verify you can afford the payments. We can still qualify with credit issues or income documentation issues
Second: Sign an Agreement to Terms
We will send the agreement to terms to you upon approval of your application. The agreement to terms provides a written agreement stating we will provide financing based on the terms selected during approval process.
Third: Determine Increase in Price Based on Desired Purchase Price
- Using the table above
Fourth: Select Your Down Payment
- Using the table above
- Our U-PICK seller financing program is designed for a 20% buyer down payment. We will provide financing of 80% of the home's sales price to you.
- We will provide up to a 10% down payment assistance loan for borrowers who can afford to pay off this down payment assistance loan over a short time period of between one and 10 years. This allows qualified buyers to purchase a home through our U-pick seller financing program with as little as 10% down, plus closing costs.
Finally: Find you New Home!
- Work through our Realtor or yours*. We are here to help guide you through the path to homeownership, we can create custom property lists based on your preferences and share them with you through your account page.
- Use our "U-Pick Home Search" tool to help you discover the home you've been dreaming for.
Contact us
Connect with us today for more information on the U-Pick Seller Financing Program!
Phone: 480-360-7850
This website uses cookies.
We use cookies to analyze website traffic and optimize your website experience. By accepting our use of cookies, your data will be aggregated with all other user data.