Michael Inkman

Fairway Independent Mortgage Corp.

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Michael Inkman | Fairway Independent Mortgage Corporation
5.0
Based on 103 reviews
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Lee Vanvolkenburg
15:43 23 Nov 23
Michael and his team were wonderful to deal with. They were excellent with communication and always available to answer questions. Thank you all!
williams lovos
22:54 16 Nov 23
We close on the house tomorrow! Thank you David and Michael for making my first home buying a smooth process. I had several out of the ordinary situations that would had easily not been possible to get the loan in the time that they were able to approve it. My wife and I are forever grateful for the work the team did. Thank you again!
Mario Silvestri III
16:45 16 Nov 23
Rex Perkins
16:56 15 Nov 23
Everything had been going well over the past two years since refinancing an existing mortgage. The application process, approval, servicing website, everything had been very smooth, nothing but the best service. I then had a minor issue arise. We had a wind loss claim on our home and, unfortunately, I had put off getting the check cosigned until the last minute. An issue arose as part of a minor miscommunication in terms of where the check was to be forwarded for endorsement.To make a long story short, I feared that this miscommunication and misdirected check coupled with my procrastination were going to result in the check expiring and a huge hassle on my part to go through the process again. Mr. Inkman nor his branch were in any way involved with my account or account management, yet, the check inadvertently ended up in their draft loss department and I feared this would further delay things. I was a bit frantic.One of those that I emailed was Mr. Inkman. In an era when customer service is not as valued as in the past, I was very skeptical I would meet the deadline. But, to my surprise, Mr. Inkman took it on his own to personally get things done and get the issue resolved. It appears that he tracked down the overnighted check personally, directed it for signature, packaged and overnighted the check back to me. All the while remaining professional and pleasant and providing consistent email updates on the status. It doesn't even look like he delegated, rather taking the initiative and seeing it through on his own.To me, that's not just doing a job, that's going above and beyond in terms of leadership, professionalism, and customer service. We could not be more happy. And, as a further sign of good will, the Fairway CEO actually emailed me personally to follow-up and assure resolution. Been very happy with Fairway since my refinance, Mr. Inkman's efforts only further reinforce that opinion.
Samer Fallouh
15:01 15 Nov 23
Debbie Salas
21:47 03 Oct 23
This transaction probably would not have happened without Michael. Whenever we hit a stumbling block, he found a way around it! He kept us informed and was a positive light all the way through to the end and beyond.Thanks
Eric Kieffer
22:46 16 Aug 23
Did business with Michael about 20 years ago and he was happy to help us again. He and his team did a great job. See you in another 20.

Is Owner Financing Your Home the Smartest Move?

May 28, 2025 by Michael Inkman

Owner Financing Your Home Deciding to sell your home can feel overwhelming, especially when you want to maximize profit and close quickly. One strategy gaining popularity is owner financing (also known as seller financing). But is it right for you? Let’s discuss how it works, when to consider it, and the key factors every seller should weigh.

Why Buyers Ask for Owner Financing

Most buyers secure a mortgage through a bank or credit union. When a prospective purchaser requests you to carry their loan, ask yourself:

  • Credit Constraints: Do they lack sufficient credit history or have a low credit score?
  • Down Payment Challenges: Are they unable to come up with the typical 10–20% down payment?
  • Unique Loan Needs: Are they self-employed, retired, or otherwise outside conventional underwriting guidelines?

If a buyer can’t obtain traditional financing, owner financing may open the door to more offers and potentially at a higher interest rate.

Evaluating Your Risk

Before you agree to seller financing, get crystal clear on your own financial standing:

  1. Existing Mortgage Payoff
    Unless you own the property outright, you must pay off any outstanding mortgage when the sale closes. If you cannot and don’t have enough in reserves, you may not be able to extend the financing.
  2. Monthly Cash Flow
    In the event of default, can you afford the monthly payment on your former home? Ensure you have a plan (or an escrow cushion) to cover the mortgage if you need to reacquire the property.
  3. Interest & Terms
    Seller financing typically commands a higher interest rate than a bank loan. This can boost your long-term returns, but be sure to set clear amortization schedules, late-payment penalties, and balloon payment dates.

Structuring a Win-Win Deal

If you own your home free and clear, you have more flexibility:

  • Partial Financing: Offer to carry 20–30% of the purchase price, with the buyer obtaining a conventional loan for the remainder. After 12–24 months of on-time payments, they can refinance the balance and send you a lump-sum payoff.
  • Full Financing: You act as the bank for the entire sale price. The buyer makes monthly payments (with interest) to you directly. This creates a passive income stream but requires careful vetting and clear contractual terms.

Always work with a skilled real estate attorney to draft a compliant promissory note and mortgage (or deed of trust). A professional agent can help screen buyers, verify incomes, and coordinate appraisals.

Benefits & Risks at a Glance

Benefits

  • Faster sale in a slow market
  • Potentially higher interest income
  • Access to a wider pool of buyers
  • Reduced carrying costs if you’ve paid off

Risks

  • Responsibility for property upkeep
  • Complexity of loan servicing
  • Buyer default leading to foreclosure
  • Responsibility for property upkeep

Owner financing isn’t for every seller, but for the right situation, it can be a powerful tool to accelerate your sale and increase profits. Do your homework:

  1. Crunch your numbers: payoff, reserves, and projected returns.
  2. Consult a real estate attorney to draft airtight documents.
  3. Partner with an experienced agent to market and screen buyers.

Let’s discuss whether seller financing aligns with your goals and structure a deal that works for you and your buyer. Reach out today and unlock a smarter way to sell your home!

Filed Under: Home Selling Tips Tagged With: Owner Financing, Real Estate Advice, Seller Financing

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Michael Inkman

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michael@michaelinkman.com
Mobile: (214) 762-4659
NMLS #152707

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The content on this website is written by Michael and reflects his opinion, and not the opinion of Fairway Independent Mortgage Corporation.

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4201 Marsh Lane
Carrollton, TX 75007

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