Amid rising mortgage rates and sluggish home sales, a novel real estate transaction model is gaining traction by reviving and standardizing an older financing method. Ryan Leahy, the founder of MORE Seller Financing, has developed the first national platform designed to bring consistency, compliance, and clarity to seller financing, which had largely faded from mainstream use. This approach offers both buyers and sellers unique advantages in navigating today’s challenging housing market.
A New Era for Seller Financing Emerges
In the face of affordability challenges reminiscent of the 1980s and 1990s, when traditional interest rates surged, MORE Seller Financing introduces a standardized framework for seller financing. In a world where conventional lending barriers persist, this innovative solution provides a bridge loan option lasting approximately three years, giving buyers time to refinance or secure permanent financing. The company focuses on higher-end properties, targeting homes priced at $600,000 and above, attracting financially literate buyers who may not fit traditional lending criteria due to credit issues but possess significant financial resources.
Data indicates growing adoption; in 2024 alone, there were nearly 90,000 real estate transactions utilizing seller financing, representing a slight increase from the previous year and totaling $30.3 billion in volume. Texas leads the charge, accounting for over a quarter of all such transactions nationwide. MORE ensures legal protections through professional servicing and collaboration with experienced law firms, addressing past concerns about wraparound mortgages that led to foreclosures during financial crises.
Perspective on Affordable Housing Solutions
This development highlights the potential for creative financial solutions to address housing affordability issues. By blending institutional lending practices with the flexibility of seller financing, MORE exemplifies how tailored approaches can benefit both parties involved in real estate transactions. As partnerships expand, including collaborations with luxury property divisions like eXp Realty, the reach and impact of this innovative model continue to grow, offering hope for those navigating the complexities of today's housing market.