Posted by Brent_IL on February 19, 2002 at 09:50:54:
It’s possible, if you check around. A few banks are only concerned about their 80%, but most lenders want the buyer to have some cash in the deal. Some lenders who won’t do 80/20, will do 80-10-10 if you put 10% cash down.
Could the owner re-fi at 80% and let you take over subject-to, or do a wrap?
SELLER LOANS DOWN PAYMENT - Posted by MARKY
Posted by MARKY on February 18, 2002 at 21:45:11:
IS IT POSSIBLE TO TAKE A CONVENTIONAL MORTGAGE OUT ON A PROPERTY WHERE THE SELLER WOULD TAKE THE DOWN PAYMENT AS A LOAN TO BE PAID OFF WITHIN A YEAR OR 2 AT GOING RATE??
WOULD BANK AGREE TO SUCH A SETUP?
Re: SELLER LOANS DOWN PAYMENT - Posted by JamesL
Posted by JamesL on February 19, 2002 at 18:11:54:
If you find that banks don’t like that, call 5 mortgage companies. You’ll find someone who doesn’t mind.