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YOU MAY BE ABLE TO BUY A HOME WITH OWNER FINANCING
IF YOU HAVE $10000, OR MORE, AS DOWNPAYMENT AMOUNT!.
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For Over 20 Years Peninsula Homes Real Estate Has Helped Many People, Just Like You, Become Home Owners.

We Are Located On The Virginia Peninsula. Therefore, We Primarily Help People In Newport News VA And Hampton VA. However, We Are Able To Assist People In York County,  Poquoson, Norfolk, Virginia Beach, Chesapeake, Portsmouth, And Surrounding Areas.

We Are A Real Estate Company. We Offer A Service Specifically Created To Assist People That Many Other Realtors May Not Help.

This Brief Video Explains How. There Are Certain Potential Home Buyers Who Are Overlooked By Home Sellers, Real Estate Agents, And Home Loan Companies.

These Are People Who Want To Buy A Home Now. But, They Have Some Credit Issues. So They Are Unable To Get Home Finance Approval Now.

Often They Just Need To Raise Their Credit Score. Pay Something Down Like A Credit Card, Auto Loan, etc. To Lower Their Debt. Or, Get Something Negative Paid Off. Or, Have Something Removed From The Credit Report. In Any Case They Usually Just Need Some Time To Do It. But What Typically Happens Is The Realtor Will Say “Call Me Back When It’s Done”. Then Move On To The Next People. And It Never Gets Done.

We Are Willing To Help These Buyers. You Can Get The Option To Buy A Home Now. And, Get The Time To Complete The Things The Home Loan Company Is Requiring You To Do! You Can Do Both By Finding A Seller Who Is Willing To Do Owner Financing.

This method is not new. It has been around for years. It has helped many people be able to own their own homes. You can hear it referred to as Rent-To-Own, Lease-To-Own, Lease To Purchase, Option To Purchase, Owner Financed, Lease Option, Rent Option, Lease Option To Buy, Lease Purchase, Purchase Option, etc. They all are used interchangeably. And they can all mean the exact same thing. Or, each can be totally different. It all depends on how it is set up, and how it is actually written up, in the agreement itself.

It can be a solution for someone who can not get approved for a Home Loan because they know that they have some things they need to fix. But they have the money to put down.

They key is finding someone selling a home who is willing to do Owner Financing while you take care of those things needed to get approved for regular Home Financing. Then you will refinance and switch everything over at that time.

We all know that most people want everything right now. The same is true for the majority of home sellers. For Example: If a seller is asking $100,000.00 for the home… then he wants $100,000.00. And most sellers are willing to wait until someone comes along who will give them that $100,000.00.

However, if the home sits for what they consider to be too long… then some sellers may consider other options. They may consider owner financing with a down payment that is typically somewhere around 20% of the asking price.

So there are only certain houses to choose from where the owner is willing to do this. And normally $1000, $2000 or $3000, etc is not enough money for a down payment. Plus, it will not be possible at all with Bank Foreclosures, Government Homes, Short Sales, etc. Only with private individuals who are selling a home. Many of these homes will be MLS homes by other REIN Member Brokers.
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HOW DOES IT WORK?

We are Licensed Real Estate Agents. We work for, and represent, Home Buyers! You let us know what you are looking for? You let us know what you are able to do? Then we search the MLS to try and find houses that match. The overall objective is really that simple.

Every individual who is selling their home has the option to do Owner Financing. Even if they don’t know it. Even if they still owe a loan balance on the home. The Lawyers just need to arrange things in a certain way at Closing. The Deed to the home will be placed in your name. It may be held in Escrow until you are able to get a approved for a regular home loan and refinance. This is done to protect both the Buyer and the Seller.

It can be an agreement where you make the monthly payments directly to the Seller. Or it can be an agreement where you simply take over the existing monthly payments on their loan until you are approved, and able to refinance, in to your own home loan.

But we all already know how most people are? The overwhelming majority of Home Sellers are going to want all of their money upfront. Which means there will always be a limited number of houses to choose from. It will be very helpful for you to understand this from the start.

What our company does is try to find people who are selling a house. And then we attempt to educate them about the benefits of Owner Financing. If they are willing to do It, then it will help get their house Sold. Nevertheless, many people will say NO. This is normal. You need to not get discourage by it. We just need ask another Seller. Until we find one who will say YES.
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WHAT YOU NEED TO DO?

Your Main Objective Is To Do What Ever You Can To Improve The Chances Of Someone Saying Yes!

PROOF OF FUNDS: The very first thing is to prove to them that you are serious. That you have the required money. And you are not wasting their time. The Seller has established that they actually have the house to sell. Now, the Buyer needs to establish that they actually have the ability to buy it!  Every seller will require proof that you have the down payment. This can be a bank statement, certified check, copy of a money order, etc. Or a simple letter from the bank, or credit union, stating the amount. No personal checks. This will be required BEFORE the Seller will allow us to see inside the house. They want to know if a deal is even possible at all. If not, then there is no need to go to the house. Plus, it is amazing how much more Sellers are willing to deal once they see the money.

TIP: Only let them see what they need to see. For Example, If you say you have $5000 for a down payment. Do not send them a bank statement showing $10,000. If they see it, then of course they are going to want it. So just get a letter from the bank stating that $5000 is currently available. If you do use a statement, take a black marker and cross out any sensitive information like account numbers, ssn, etc. You can scan & email. Or fax to 757-299-9900. The Owner Financing Process Does Not Go Forward Until You Send The Proof Of Down Payment!
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PROOF OF INCOME Sellers will also required you to provide proof of your income. The reason why is clearly understandable. They want to make sure that you have the ability to make the payments, ON TIME, each month. The more you can provide the better the possibility of them saying YES. We recommend that you provide the proof of your income at the same time you provide proof of your down payment. Just send them both in together.
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DEPOSIT Whenever you are ready to submit an official Purchase Offer to buy the home, a Deposit will be required at that time. In Virginia you will often hear it referred to as a Earnest Money Deposit. It is another indication that a potential home buyer is truly serious. The Deposit can not be a personal check. It will be credited towards your Down Payment at Closing. For Example: Your Purchase Offer calls for a $5000 Down Payment. You make a $1000 Deposit with your offer. When it goes to Closing you will need $4000 more for the balance of the Down Payment due.
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CLOSING COSTS: There is more required to buy a home than just the price of the home! You need to include Closing Costs in your calculations for how much money you will need in total. This is for the Lawyers to do everything required to transfer the ownership of the home to you. This includes: a title search to make sure the Sellers really are the true owners of the home. Make sure there no liens against the house, back taxes, city fees, etc. Title insurance to protect your ownership rights. There are state, and city, sale taxes. Entering your name in the court records as the new owner, and more. It includes a $495 Buyer Representation Fee. The total estimate for Closing Costs will be approximately $1500 to $2000 for everything. Therefore you need to include this, together with your down payment, to estimate the total amount of money that will be needed to buy the home.
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MAKE A GOOD OFFER: You want to be able to improve your chances getting someone to say YES.  And this comes down to three main things:

1) You Have To Be Able To Give Them A Decent Down Payment. Often we will get contacted by someone who says they have $1000. Well everyone should know it takes more than that just to rent an apartment. So it is unrealistic to think someone is going to sell you their house for this. You can see if you can get help from a friend, or family member, to get a bigger down payment. If not then you will just need to wait until you can save up more money to put down.

2) You Need To Make Monthly Payments Equal To What They Could Get For Rent. If not a little more. You have to give the owner some incentive to do this for you. No one is going to do it if they feel they are losing money in the deal.

3) Let Them Know They Will Not Have To Wait Long For The Rest Of Their Money. The shorter the time it will take you to get approve for a regular loan, and refinance, the better! Most people can repair their credit and get approved in about a year, or less. We work with a Home Finance Company who will show you exactly what you need to do for Free. Carrington Mortgage approves people that other companies don’t. Click the link below. Just enter your preferred contact information. A representative will get back to you. Your credit may not be as bad as you think it is. They may be able to approve you right now. In any case, they will assist you for FREE: Carrington Home Loans

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Please Understand That These Are Not Our Rules. This Is What It Takes To Buy A Home. And Owner Financing Is One Of The Easiest Ways To Buy A Home! We Understand That Many People Just May Not Be Ready Yet. But, If You Are Able To Do What Has Been Explained On This Page, Then We Should Be Able To Find Someone To Do Owner Financing For You.
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WITH OWNER FINANCING YOU CAN REPAIR YOUR CREDIT, AND BUY A HOME, AT THE SAME TIME!

THE SOONER YOU GET STARTED, THE SOONER YOU WILL BE MOVING IN TO YOUR NEW HOME. JUST
LET US KNOW HOW MUCH YOU HAVE AVAILABLE. AND WE WILL TRY OUR BEST TO WORK FOR YOU!

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Please Take Your Time. Read This Entire Page.
Then Contact Us To Get Everything Started.
Your Information Is Kept Strictly Confidential.

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PENINSULA HOMES REAL ESTATE
809 Aberdeen Rd Ste. 9001 Hampton VA 23670
24hr Line: 757-932-0004 Fax: 757-299-9900
“WE HELP PEOPLE BUY HOMES WITH OWNER FINANCING”