Updated over 5 years ago on . Most recent reply
Loan Options for Owner Financing Down Payment
Hey BP!
I am speaking with a Seller about purchasing 4 Triplexes that he owns.
He is willing to Owner Finance with a note amortized over 30 years at 4.5% and wants 25% down.
My question is, can I get a loan from a bank for the 25% down? Assuming my credit/income/other qualifications all meet what they need...is that even a loan that is offered? If so, what kind of loan am I looking for? What terms are typical on a loan like that?
Any thoughts would be greatly appreciated. Thanks so much!