Finance your home with SWE Homes

Our mission is to create housing opportunities for every family and build wealth for businesses by providing properties and easy access to financing, considering the ability to pay and not past credit history. We strive to promote and enrich our communities.

With owner financing you purchase a property directly from SWE Homes instead of through a conventional mortgage lender. 

SWE Homes Owner Financing Program

Our owner financing program is designed to help people with different financial situations find the home for sale they want. Our in-house financing program offers flexibility in qualification, unlike other banks or financial institutions. Your credit score is not a factor, and best of all you can take possession in as little as 14 days.

How to qualify for Owner Financing:

Owner financing is available for our homes, townhomes, and other residential properties. A down payment is required for our owner financing program.

 

How do you determine my credit worthiness?

  • To qualify to buy one of our residential properties, you must provide us with:
  • Proof of 12 consecutive months of rental payment history 
  • Evidence that your monthly debt, including the monthly payment of the home, isn't more than 43% of your PRETAX income.

 

Your monthly debt calculation may include:

  • Monthly payments on your other debts (e.g., car payment)
  • Monthly payments on other mortgage-related costs (e.g., home insurance and property taxes)
  • Any commitments for child support or alimony.

 

How do you determine my credit worthiness?

  • We do not require a credit score; however, we will obtain your credit report and will verify the following information:
  • Last 2 years of employment
  • 30 days of payroll checks
  • Income tax returns for the most recent 2 years
  • W2s or 1099s for the most recent 2 years 
  • Last 3 months’ worth of bank statements
  • Last year of rental history (Ex: lease agreement, canceled checks, and receipts)
  • Utility bills (EX: gas, light, or water)

 

Can I qualify if I have filed for bankruptcy before?

  • If you or any of the borrowers have filed bankruptcy, you may be required to put a larger down payment. If you currently have an active bankruptcy, you may not be eligible for our owner financing program.
Did you know we rent properties too?

Your Monthly Mortgage Payment

What is escrow?

Escrow accounts are set up to collect property tax and homeowner’s insurance payments each month. When your insurance or property tax bill comes due, the lender uses the escrow funds to pay them

Additional Fees

There are no closing costs for Texas properties. In addition to your down payment, we are required to collect the following charges at closing:

  • $99 to record the deed in the buyer(s) name
  • 1st year of prepaid insurance
  • Two (2) Months property tax escrow
  • Two (2) months insurance escrow
  • Prorated interest
Georgia Closing Cost Details

Required costs are as follow:

  • 1st year of prepaid insurance
  • Four months property tax escrow
  • Two months insurance escrow
  • Prorated interest
  • Attorney fee (tbd)
  • Transfer tax/recordation (tbd)
  • Title Policy (Optional)

(for homestead / owner occupants, please call a sales specialist for details)

* All prices and information are subject to change without notice

The Layaway Program

We don’t stop by just offering owner financed homes for sale, but we go a step further and make it easy for buyers to come up with the down payment for the home they want. Our layaway program does just that; it allows home buyers to secure a property with a portion of the down payment while giving them more time to complete it.

Our Layaway Program is available for our residential, commercial, and land property listings with no credit needed and no application fees.

How does the program work?
  • Pay 35% of the required down-payment of the home you want
  • Make weekly payments for the balance of the down-payment over a six-week period
  • A minimum payment of $275.00 / week is required

Ready to buy? Connect with us

Common Questions

What is escrow?

Escrow accounts are set up to collect property tax and homeowner’s insurance payments each month. When your insurance or property tax bill comes due, the lender uses the escrow funds to pay them.

What are the closing costs for Texas properties?

There are no closings costs for Texas properties. In addition to your down payment, we are required to collect the following charges at closing:

  • $99 to record the deed in the buyer(s) name
  • 1st year of prepaid insurance
  • Two months property tax escrow
  • Two months insurance escrow
  • Prorated insurance

* All prices and information are subject to change without notice

What are the closing costs for Georgia properties?

Required costs are as follow:

  • 1st year of prepaid insurance
  • Four months property tax escrow
  • Two months insurance escrow
  • Prorated interest
  • Attorney fee (tbd)
  • Transfer tax/recordation (tbd)
  • Title Policy (Optional)

(for homestead / owner occupants, please call a sales specialist for details)

* All prices and information are subject to change without notice

 

Am I eligible for a loan if I have filed for bankruptcy in the past?

Yes, but there might be more requirements. Please contact us at 713-413-1000 for more details.

How do you determine my credit-worthiness?

We do NOT require a credit score; however, we will obtain your credit report and will verify the following information:

  • Last two years of employment
  • 30 days of payroll checks
  • Most recent two years income tax returns
  • Most recent two years of W2 or 1099's
  • Last three months of bank statements
  • Last year of rental history (lease agreement, canceled checks, and receipts)
  • Utility bills (gas, light, or water)
Do you pull a credit report?

Yes, we do not take your credit score into consideration, but we do pull a credit report.

Financing For Commercial & Land

Owner financing* is available for our lots and commercial properties. 

All you need is a job

To qualify to buy a commercial property or land, you must provide us with evidence of 12 consecutive months of rental payments and have a job that pays you 4 times more than the monthly payment for the property that you have selected to purchase. A down payment is required for our owner financing program.

Bankruptcy

If you or any of the borrowers have filed bankruptcy, you may be required to put a larger down payment. If you currently have an active bankruptcy, you may not be eligible for our owner financing program.

No Credit OK

No credit ok; however, we will verify the applicant(s) information:

  • Last years of employment
  • Last 2 months of pay stubs
  • Last year of rental history (lease agreement, canceled checks, and receipts)
  • Utility bills (gas, light, or water)

We qualify applicants based on their monthly income. The monthly payment must be less than or equal to 1/4 of your monthly income. The total monthly payment on the mortgage will have to be pre-determined at the time of the pre-qualification and will include:

  • Principal
  • Interest
  • Escrow amounts for taxes and insurance.
  • Loan servicing fee

No Closing Costs in Texas

There are no closing costs; however, we are required to collect the following charges at closing:

  • *$198 to record the deed in the buyer(s) name. Subject to change.
  • 1st year of prepaid insurance
  • Two months property tax escrow
  • Two months insurance escrow
  • Prorated interest

Closing Costs in Georgia for investors

Required costs are as follow:

  • 1st year of prepaid insurance
  • Four months property tax escrow
  • Two months insurance escrow
  • Prorated interest
  • Attorney fee (tbd)
  • Transfer tax/recordation (tbd)
  • Title Policy (Optional)

(for homestead /owner-occupants, please call a sales specialist for details)

* All prices and information are subject to change without notice

For Commercial, Investment, and any property that is not the buyer's residence and will not be the buyer's homestead, a 3 year/10% prepayment penalty will apply.

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