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Jeffrey P. Dillingham
(Team Leader/Broker/REALTOR®)
Jeff@DandTRealty.com
210.504.4800

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Featured Blog

Go inside San Antonio's coolest offices

17 October 2019, 8:55 pm

The Business Journal visits a lot of workplaces in the course of learning about businesses that are new to us and catching up with familiar ones. Many...

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Featured Blog

What Anthony Bourdain, New Braunfels and tourism have in common

17 October 2019, 7:30 pm

New Braunfels is getting a boost in exposure courtesy of a late culinary personality far more attached to the Big Apple than to South Texas — Anthony ...

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Manufacturer settles Gulf Coast pollution lawsuit for $50M

17 October 2019, 7:25 pm

A Taiwanese manufacturer has agreed to pay $50 million to end a lawsuit accusing it of illegally dumping plastic into a Gulf Coast bay. A Texas feder...

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SA biotech makes deal with New York firm to design fat-reduction device

17 October 2019, 7:19 pm

The Alamo City company has gained a critical new partner. ...

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SA’s new economic recruiting message: We’ve got the land

17 October 2019, 7:19 pm

An availability of urban and suburban real estate may prove to be one of San Antonio's more compelling economic enticements. ...

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Jeffrey P. Dillingham (Team Leader/Broker/REALTOR®)
Jeff@DandTRealty.com
210.504.4800

Respected & Multi-Award Winning Services

Home Buyer(s) - Whether you are searching for a home via conventional needs (Cash or Mortgage) or an investor looking to expand your portfolio, let our award winning services guide you in the right direction. Click the link below for a search.

Alternative Financing - Unable to get traditional financing or tired of renting? Check out our owner financing and Creative Financing programs!

Home Seller(s) - Looking to upgrade? Downsize? or wanting to build your dream home? contact us for a free home evaluation. Trusted & Reviewed - with an "A" Rating on Angie's List and numerous happy client testimonials.

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Owner Financing in Texas

Owner Financing in Texas

An important bucket list item for many Americans is to own their own home. However, many people are finding that it’s more challenging to obtain a mortgage and purchase a home today than it used to be. It can be difficult to achieve this lifetime goal, and this is often complicated by previous generations, not understanding that the process of purchasing a home has changed dramatically.

Before 2008, the real estate market simply didn’t have as many regulations as it does now. It used to be very easy for sellers to offer financing programs that were a bit more creative. This process made it far easier for buyers to obtain the mortgage they’d always wanted. However, those easy mortgages built up and brought on the real estate market crash of 2008, in which many individuals lost their life savings, and some lost their homes.

Sellers who are attempting to sell their homes to buyers who have credit that is less than perfect may decide to finance the purchase on their own. Owner financing is a valid method, but sellers who want to go this route may want to contact a Real Estate Broker/Realtor with experience, and a skilled attorney to help draw up the paperwork.

If you’re selling your home and would like to consider owner financing in Texas, there are a few things to keep in mind:

The SAFE Act – If a seller engages in more than five owner-financed transactions in a year, they now have to have a Residential Mortgage Loan Originator License, according to the Secure and Fair Enforcement (SAFE) for Mortgage Licensing Act. This helps keep individuals from financing many properties in a row and possibly not doing so ethically. There are some legal exceptions to this Act, such as providing mortgages to family members or selling your primary residence. It is wise to work with an attorney in these specific situations.

Dodd-Frank/TitleXIV – The Mortgage Reform and Anti Predatory Lending Act went into effect in 2014 and states that sellers must determine if a potential buyer can afford the house before they set up a contract. This law originated to eliminate finance deals to sell homes that more unfortunate borrowers couldn’t reasonably afford but signed contracts for anyway. The law prevents balloon payments as the mortgage matures, as well as penalty fees for pre-payments.

If you’re a Texas buyer and are interested in purchasing a home, you must be aware of the changes to the real estate market over the last decade. If you’re planning to owner finance your home, speak to a real estate attorney or qualified real estate professional to learn more about details for funding. These skilled professionals can help ensure that you manage your legal liabilities appropriately as you put your property on the market or purchase an owner financed home.

Stacey A.

Jeff and his team were wonderful! Extremely responsive and understanding of our needs. Also, very flexible and readily available to show us homes, even with little advance notice. He is very honest, professional, and knowledgeable. Thank you to the Dillingham team!

Gary B.

We found Jeff to be helpful, friendly, diligent, knowledgeable and always available, even late evening and weekends. As a buyer who has moved multiple times we can say he is easily the most competent Realtor we have ever dealt with and have no hesitation in recommending him to anyone.

April

Jeff was professional and has given us great advice, he has the passion to help people get into their dream homes!

Sarah

Jeff helped us find the perfect home, he was very patient and his expertise got us a very good deal!

April G.

I would highly recommend Jeff to anyone buying a house. This was our first home and I couldn’t believe how much he helped us through the process! I will definitely be using him for all of our home purchases and sales!