Total 30%TOFC terms are based on a 30-year loan at 10.9% interest rate
Pre-approval will begin once all required items are received and buyers will be notified if they qualify within 24- 48 hours. A pre-approval letter will be provided upon request. Please note these proofs of funds will be required before pre-approval letters will be sent
Buyer can go shopping for any home in the State of Texas. Once an executed contract has been received, the Buyer must deliver a non-refundable $5,000 deposit to The Owner Finance Company within 24 hours at any
*Wire instructions will be provided via email. Cashier's checks and cash can be deposited or dropped off at TOFC corporate office
Buyer will be required to make 3 fund disbursements to TOFC throughout the loan process, not including the Earnest Money. Earnest Money must be delivered to Title company. 1. Initial $5,000 deposit once executed contract is submitted 2. 2nd $5,000 deposit once initial underwriting has been approved and file is opened with the RMLO 3. Remaining closing funds must be deposited 48 hours prior to the first close at Title Co. *Deposits will be credited towards closing costs
Example: Home purchase price: $250,000
20% down payment: $50,000 5% TOFC fees: $12,500