Seller Financing to deserving buyer with large down payment

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Seller Financing to deserving buyer with large down payment

Member since 2024 · 8 posts · 6 votes

Skip the DSCR loan fees!

534 Trowbridge St, Indianapolis, IN 46203-1441
Fully renovated 2 bedroom 1 bath home available with seller (owner) financing for deserving buyers with large down payment. Alternative structures such as lease option / rent to own / contract for deed may be considered depending on buyer’s needs and attorney review. Seller paid Buyer’s agent commission 3% (paid at closing)

Financing Terms
• Sales price $159,000
• Down payment: 15% (Down payment assistance available for qualified buyers)
• Monthly payment of $1,300/month includes Principal, Interest, and monthly servicing fee
• No Origination Fees
• Closing/Attorney fee: $1,000 (buyer-paid)
• Completed pre-screen questionnaire and identity verification
• Background/credit review (prior bankruptcy or limited credit considered)
• Proof of available funds for down payment
• Income verification

Compliant with all applicable Federal, State, and Local Fair Housing laws. Does not discriminate against any protected class.
Terms subject to verification and final approval. Listing is not a commitment to lend. Final structure and documents handled through the closing attorney.

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  • Frank PyleBusiness Member
    Specialist · USA · Member since 2024 · 280 posts · 130 votes
    9mo

    This reads like seller financing aimed more at owner occupants than investors, and the missing pieces are the interest rate, amortization length, balloon, and whether taxes and insurance are included or on the buyer. The 1300 payment on 159k with 15 percent down could be fine or terrible depending on those terms, and you also want to know if they will allow an LLC and non owner occupied use. On the Indy side I see a lot of out of state buyers get excited about creative terms, then the deal falls apart at the attorney review when the note language is tight or the servicing and default terms are harsh. This could fit IEC if you want us to run rent comps and a cash flow check under the seller note versus a DSCR, and also sanity check the contract structure before you spend money on inspection and title work. Do you know if they are open to an investor buyer, and can you get the exact note terms like rate, term, balloon, and who pays taxes and insurance?

    Frank Pyle at ExP Realty
    NEXA Lending- Investors Edge Concierge
    View Page
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