Posted by Bud Branstetter on October 14, 1998 at 11:19:17:
If someone is going to put 32K down you are not likely to need to sell the note. Most mortgage brokers should be able to get them a loan. If their credit or ratio’s are so bad then the 80% loan would be discounted depending on the face rate. The more the payment the more cash you could receive. You can either raise the interest rate or shorten the term.
If they do not have the 20%(80-0-20) down an 82-8-10 works. Really bad credit and nothing down then try 70-30-0. Each circumstance really unique and a hard and fast rule is not applicable.