From Traditional Lending to Owner Financing: 3 Things to Know When Buying a Home

If you’ve had difficulty qualifying for a mortgage, you may think the dream of owning your own home is out of reach. It’s time to think again. There are alternatives to traditional mortgages, and SWE Homes is here to help. This Houston company strives to help individuals with low credit scores or incomes achieve their dreams of purchasing a home. As you explore alternative home-buying options, here are three important topics to understand: 

  • Traditional Financing: Since the economic crisis, it’s been harder than ever to obtain a mortgage from a traditional bank lender. Banks require thorough credit checks and a top-level credit score to secure financing. Bank financing also involves stringent payment plans and expensive closing costs.
  • Owner Financing: With owner financing, the buyer essentially takes out a loan from the seller, then makes installment payments, effectively eliminating the bank as a middle-man. Some benefits to owner-financed homes include no closing costs, mortgage flexibility, and tailored financing.
  • Layaway: The SWE Homes layaway option offers home buyers the opportunity to pay off their down payment in installments, allowing for extra time to save up. This way, you can combine layaway down payments with owner-financed homes and little to no closing costs—mortgage lenders won’t offer that level of convenience and customization.


​The SWE Homes team strives to provide options for individuals and families who experience difficulty securing financing through traditional banks and lenders. No matter what your credit history or your income, everyone deserves a chance to own a home. To learn more about owner-financed homes, call (713) 413-1000 or visit their website.

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