Definitions for "Owner financing"
A home- financing technique in which buyer borrows from the seller instead of, or in addition to, a bank. Sometimes done when a buyer cannot qualify for a bank loan for the full amount. also called seller financing or purchase-money mortgage.
The seller (current owner) provides all or part of the financing.
A real estate deal which uses the seller to finance part of the purchase price instead of a bank.
When a homeowner, who has equity, is willing to hold some or all of that equity and loans it to a qualified buyer. It is usually secured by a first or second mortgage and recorded at the county courthouse.
Keywords:  vendor, take, back, mortgage, see
See "mortgage back" or "vendor take-back mortgage".