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Financing Your Home >Owner Financing
If you are selling a house in which you have a lot of equity, and you don't need that equity to buy a new home, an owner-financing agreement may benefit you and your buyers.
Seller financing arrangements usually involve the buyers securing the largest portion of their purchase money from a mortgage company and getting a smaller second loan from the sellers. For example, they may finance 75% from a lender, put in 15% from savings, and ask the sellers to finance the remaining amount. The terms and interest rates on seller carry-backs are negotiated on a case-by-case basis.
Sellers may be able to negotiate a note that provides a better return on their money than 1-to-5 year CD's or treasury notes. They should ensure that the note protects them to the fullest. Use common sense when considering such a loan, and verify the buyers' income, credit history, and job stability before making your final decision.
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Where is the world's largest dome?
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The Louisiana Superdome, with a diameter of 680 feet, is located in New Orleans, Louisiana. |
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FEATURED PROPERTY
Col w/Great Floorplan
OPEN HOUSE CANCELLED. Hot Price in Maplewood. Great house at great price! Classic colonial with the layout everyone wants- large kitchen open to huge family room addition! Truly move in condition & full of wonderful unique features you wouldn
Location: Maplewood, 5 Euclud
Price:
$715,000 SOLD!
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- NUMBER1EXPERT™ 
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