First you need to find a house where the seller will be able to take back a mortgage note. See the section for sale by owner. No points to pay No conventional loan requirements to meet. No certain down payment to come up with No meeting Federal Guidelines. No termite inspection reports Seller financing helps people get the funding they need to buy your house.
Sellers are happy to have sold their house.
Before creating a note all parties agree on the terms of sale, purchase price, interest rate, and amortization. We should look at the qualifications of buyer. If the buyer is qualified continue. If the buyer is substantially unqualified to make the purchase, stop now. Know how much cash the buyer has available for a down payment.