I don't recommend owner financing.. I've seen to many "issues"... owner dies, rates higher, etc. As a mortgage lender I am not saying this to promote anything, but I've just seen problems. For a mortgage all you need is a 2 year job history.. you can have changed jobs, we just want to see that you've worked for the last 2 years. You will also need decent credit, and a down payment of 3.5% of the sales price if you use FHA. There are also some programs, grants, etc for police, teachers, fire fighters etc where you won't have to have a down payment. If you do go the route of owner financing I would definitely advise you to refinance to a "real" mortgage once you have that 2 years under your belt. So make sure you pay your "owner financed mortgage" by check on time & keep copies of the cancelled checks since owner financing doesn't report to your credit. Good luck!!!
Mortgage lender 33 years.