What Exactly is Owner Financing and How You Can Use It in New York

If you’re thinking about buying land, you may have heard of the terms “seller financing” or “owner financing” and you’re not sure what they mean. In this blog post we’ll answer what exactly is owner financing and how you can use it in New York as another option to buy your next land investment…

What Exactly is Owner Financing and How You Can Use It in New York

Buying land can be an exciting new step in life as you move up from wanting some land to diversify your assets or into a custom home to accommodate your growing life. It’s a time full of possibilities and dreaming as you look from one property to the next and see yourself living there. But the one question that every potential buyer has is, how will they pay for it?

Most people have heard of bank financing, where you get a mortgage loan from a bank or mortgage lender and you pay it off over time. But there’s also seller financing (also called “owner financing”) that you can get as well. So maybe you’re wondering, “what exactly is owner financing and how you can use it in New York?

What Exactly Is Owner Financing And How You Can Use It In New York?

What Is Owner Financing?

Owner financing is when you skip going to the bank to get a mortgage and instead the owner/seller of the house acts as the bank. In other words, you still pay a monthly payment but instead of making it a mortgage payment to the bank, you pay the lender.

It’s a lot like a loan from one individual to another, but instead of getting a bunch of money up-front, the owner is letting you own the land. You pay the owner of the land month by month, and over time you’ll eventually pay off the land and own it out-right.

How Can You Use It?

You can use owner financing to acquire land in New York. When you find a property you want to buy, you simply go to the owner and ask them if they’d consider owner financing instead of waiting for you to see if you can get bank financing.

Owner financing is surprisingly common and used in a number of different ways – from first time landowners with bad credit, to land investors who cannot or do not want to use their own credit to acquire an investment property.


Owner financing can be a safe, secure, simple way to buy your next property without having to go to a bank and see if they’ll lend it to you. There are benefits and drawbacks to owner financing so make sure you research this opportunity thoroughly.

Another way to potentially get owner financing is to talk to us. We have properties that we sell using owner financing, click on No Credit Check Financing on our menu tab, and we’ll be happy to show you how it works. You don’t need great credit to get your next property from us.

Click here and fill out the form, or call our team at 1-(888)-247-7604, to see what properties we have available for owner financing.