Updated almost 4 years ago on . Most recent reply
Creative financing Help
looking for ideas. I have a potential seller Fianance deal. The seller wants 30% down which defeats the purpose. Any ideas? Any lender who’ll loan 30% and accept 70% seller finance?
Most Popular Reply
@Manuel Salce, maybe someone with more experience in seller financing can correct me if I'm wrong, but if you're looking for a lender to cover the 30% downpayment, why not purchase the property from the seller using a traditional mortgage in the first place? A lender is going to have better terms than seller financing and more importantly will require a smaller down payment than 30%. Furthermore, if using a lender to fund the property isn't a primary option, then I don't think you'll have much luck finding a lender to cover the 30% putting them in a second position to the original home owner's mortgage. Best of luck!