owner financing

Definition

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.

Use owner financing in a sentence

I was glad to be doing some owner financing instead of going through the bank, because I was friends with the owner.

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The owner financing suggestion was the only viable option at this point, so while unorthodox, it was quite effective in sealing the deal.

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When Don was searching for a new truck, he knew that due to his poor credit history he would certainly need to find a used car place that offered owner financing on the spot.

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