20% Down TOFC Pre-Approval Application k Purchase prices starting at $200
1Completed pre-approval application Valid ID or Passport
20% down payment 35% The Owner Finance Company fees 5% Estimated closing costs Total 30% * TOFC terms are based on a 30-year loan at 11.9% 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 $10,000 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 $10,000 deposit once executed contract is submitted 2.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 5% estimated closing cost: $12,500 Total: $75,000 needed as proof of funds
Mortgage Note: $200,000 (Home purchase price minus down payment) Monthly payment: $$2,066.84 (Principle & interest only) *Amounts are based on a 11.9% interest rate
Contact info: Web: www.theownerfinancecompany.com Social: @TheOwnerFinanceCompany Phone: 281.508.0013