Home owner financing is a finance option often overlooked by people buying a house. It is worth thinking about. Many times people don't have enough money for a down payment or in other ways cannot qualify for a loan through traditional means.

In this case you might want to ask the homeowner to finance the house. If the homeowner has enough equity in the home and is happy with the income your payments would provide, they may do it. After all they still have the collateral of the home as back up. When buying a house, get creative.

Times are tough if you are seeking financing on a new home. It will take some hard work and perseverance to get reasonable financing. You might want to attempt to secure what is called "owner financing." This is where the existing home owner has a lot of equity in a home and is in a position to finance the home transaction themselves. If a homeowner does not have much equity, this will not likely be an option.