Updated about 13 years ago on . Most recent reply
Should I Use a Mortgage Broker to Help w/Seller Financing?
I'm a listing agent and the seller will offer seller financing. There is a buyer who is also interested in seller financing. I've been advised by several people to find a mortgage broker who will help with this because of the SAFE Act regulations. My favorite lender said "he wouldn't touch it with a 10 foot pole" because of SAFE.
Have you ever used a mortgage broker to structure the deal and if so, how did you find one that would do it? FYI--it's going to be owner occupied, it's a condo and the seller wants to impound prop. tax, HOA dues and parking fees to guarantee the payments are made. We're looking at a 5 year note with no balloon.