SELLER FINANCING: WHAT IS IT AND HOW DOES IT WORK?
Seller financing could be an option if you have less than stellar credit and want to buy a primary home.
Seller financing is also a great way to start
real estate investing
. With seller financing, you can buy a property without going through a bank.
What Is Seller Financing?
Seller financing turns the seller of the property into a lender as well.
Seller financing removes a mortgage lender and bank from the real estate process.
How Does Seller Financing Work?
What Are Typical Terms for Seller Financing?
Because there is more credit risk for the seller, interest rates are often higher for seller financing than for bank financing.
A balloon payment is a massive payment due after a certain period. Potentially for the entire remaining balance of the mortgage.
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