owner will carry financing, owner will cary saleIf you want to buy a home but are afraid that you will not be able to get qualified for a loan, consider a transaction where the owner will carry financing for you. This is not as rare as it seems. Sometimes people who have secure finances and want to get out from under a property will accept a down payment for you and accept monthly payments. If you are looking at ads, the typical abbreviation for this is OWC, short for owner will carry. Often the terms for the loan are more favorable than through bank-financed mortgages, and there is certainly more flexibility when the owner will cary sale. The sale laws apply to the transaction-if your payment is more than 90 days late, the owner has every right to foreclose the property and they also have every right to look at your credit report. Sometimes owners have to make the financing available to buyers if the property has been sitting on the market for a long time. Start looking for homes where the owner will carry financing, and see if you can't get a great deal.