Seller Financing

For many families the number one issue stopping them to get into their own home is saving enough money for a down payment while still paying rent.

If you have good credit but have not been able to save enough money for the down payment of your home, then our Owner Financing Program is the answer you have been looking for.

What is “Owner Financing” in a nutshell?

If you have good credit but not enough down payment, our unique Owner Financing Program can help you qualify for a mortgage and move you and your family into one of our homes faster than a fingers snap!

Through this program you have to put a very small down payment and we finance the rest allowing you to qualify for a mortgage immediately.

We are able to do this by placing a second mortgage on the property.

Depending on your circumstances and the property you are interested in, we will be able to build a plan that work and get you into the home or your dreams.

I bet you would you like to see an example? So here you go…

Owner Financing - 3 year case study

The easiest way to understand it is going to one case study.

Every home-buyer situation is different but for illustration purposes let’s use this example: a nice 3-bedroom and 1 ½ - bathroom townhome with a basement, a fenced yard in a great neighbourhood.

Let’s say that based on your current financial situation we have agreed upon a 3 year term.

The market price of the property is $200,000
You have qualified for a 3 year mortgage where the bank is financing 95% of the value of the property: $190,000
with a 35 year amortization
at 5% interest rate and 3.3% CMHC Insurance Premium*
The bank requires a minimum of $10,000 down payment
So far you have been able to save $5,000 on your own
We will finance you the other $5,000
Your approximated 1^st mortgage payment with the bank will be $985
Your mortgage balance with the bank will be $196,270 including the 3.3% CMHC Insurance premium.
You will have a $5,000 2^nd Mortgage with us at 12% interest with a 3 year amortization period with an approximate monthly payment of $165.00 per month.
Your approximated monthly payment for this home will be as follows:
$   985 1^st Mortgage Payment
$   165 2^nd Mortgage Payment
$   100 Tax Payment
$     10 Content Insurance
$   200 Condo Fees
$1,460 Total Monthly Payment
In three years you will have finished paying the 2^nd mortgage. You will be able to renew your first mortgage with the bank and your monthly expenses will be reduced as follows:
$   985 1^st Mortgage Payment
$   100 Tax Payment
$    10 Content Insurance
$   200 Condo Fees
$1,295 Total Monthly Payment

Since 1962 house values in Edmonton with (ups and downs) have increased and average of 7.9% per year;

Let’s be conservative and assume that your home appreciates only 5% per year.

So in three years your home value will be around $230,000. Let’s say that your mortgage has not been reduced a lot and is still around $195,000; despite that you will have accumulated around $35,000 in equity in your home!

Not bad for someone who started with almost no money down!

If you are tired of making monthly rental payments, don’t want to keep wasting your money in rent, you feel that you are ready to start building something to show for and you are considering Home Ownership seriously then our Owner Financing Program is for you!

So, if you have a decent credit and want a home of your own the choice is yours and yours alone

Get the ball rolling and Let us know which type of home are you looking… or take a look to our currently available homes.

One last thing: we keep a list of serious buyers who are looking for a home on file at all times. We notified them of new properties available first; they get a shot at these properties before anyone else even knows about them.

Sometimes we do not even have a chance to advertise our properties on our web site. So, even if you don’t like one of our current homes, make sure you let us know what are you looking for to help us get started looking for the home of your dreams.

We work on an average of 4 homes per month and it costs nothing for you to explore your options!

At 911 Homes we are confident that nobody will work harder than us to get you into your own home…

What Our Clients Have To Say...

"I certainly appreciate everything you are doing to help me purchase this home. 911 Homes is certainly not a fraud company trying to make a quick buck but the complete opposite. All my doubts (very few) about my decision to “Rent to Own” with 911 are gone. Thanks again."

Linda - Edmonton AB

"911Homes gave me an opportunity I never thought I could ever have. Being a single mom, having 4 dogs and a rabbit, most people said no but they had been very helpful. I'm very grateful I found 911Homes."

Cherie - Edmonton AB

"It was such a nice process. Everything took about a week and a half to go from not having anywhere to go, to have our own home. It was quick and smooth..."

Cindy & Robert - Edmonton AB

"I think for me, what was the best one I can say is how fast it was. Because I was worried that I wouldn't get into a new house in like a month. But its a quick process and that's the best thing for me. I guess it was easier on the mind knowing that it will be all done soon."

Patrice - Edmonton AB

"Experience was great actually. Basically worked back and worth trying to negotiate a price. And it seems like they took everything I said into consideration and they always try to make me happy by coming up with a good price with myself."

Danny - Edmonton AB

"Absolutely. I think it's the best option while you are trying to rebuild your credit. It puts you into a home and you are not sinking money into rent."

Tracy & Mike - Edmonton AB

"To be in my home, it still feels like a dream, it still feels like it's too good to be true. I am beyond words excited and extremely happy."

Coleen - Edmonton AB

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