Your payment is collected by a third-party loan servicer, and a late or missed payment carries penalties and can lead to default, the same as any home loan. Because the deed is in your name, you can sell or refinance whenever you want: the servicer gives you a payoff, the loan is paid, and the rest is yours.
As of October 8, 2026: 119 homes in 25 states, down payments from $10,000 to $60,000.
A late payment carries a late fee under your written terms, and if payments keep being missed the loan can go into default, the same as with any home loan. The single best thing you can do is call the loan servicer before the payment is late, not after. A problem that is raised early has more ways to be solved than one that is found three months in.
Yes, if the loan goes into default and is not cured, the same as a bank mortgage with a lien on the home. That is the honest answer, and it is also the other side of owning: the deed is in your name and the equity you have built is yours. With a lease option, a missed stretch usually means the option fee and every rent credit are simply gone. With owner financing you hold something worth protecting, and you can sell it.
Yes. You own it, so you can sell it whenever you want. The loan servicer gives you a payoff amount, the sale closes at a title company, the payoff is paid from the proceeds, and whatever is left after the payoff and the costs of the sale is yours.
Yes. Refinancing later is allowed, and the deed in your name is what makes it possible: a bank will lend against a home you own, not one you rent. When your credit and income are where a bank wants them, the new lender pays the servicer's payoff and the owner financing is closed out. The rate and term page covers how the original loan is set up.
Ask our team about paying ahead on your specific agreement before you sign. Every term is in writing, including how extra payments and an early payoff are handled, so you know the answer before closing rather than after.
Browse live owner-finance inventory, or tell our team your budget and where you want to live. No credit pull, no obligation.
The loan servicer first, then our team. Call before the due date if you can.
No. The rate is fixed from 4.9% to 6.5% for the life of the agreement. A late payment carries a late fee under your terms; it does not change the rate.
Call early. Our team would much rather talk through a plan with you than see a loan go into default.