Help! How is this done? - Posted by ScottE


#1

Posted by KevinMiami on March 14, 1999 at 24:39:01:

My mortgage broker told me that there is a program available where lender finances 80% and seller carries 20%. Check your mortgage broker.


#2

Help! How is this done? - Posted by ScottE

Posted by ScottE on March 08, 1999 at 15:51:44:

I may have found a buyer for a small home I am selling. It doesn’t sound like they are going to have a ton of money to put down,but can qualify for a loan/mortgage.

My questions are these:
If they can only get a 80-85% LTV mortgage, how do they “show” a down payment to me in the 10-20%range? Don’t most lenders require showing a cash down payment?

I have no problem taking back a second, if needed.

Thank you

Scott