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Updated over 7 years ago,

Ariella Sherman's profile image
Ariella Sherman's profile image
Ariella Sherman
  • from Chicago, Illinois
  • Member since Mar 20, 2017
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14
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4
Votes
Ariella Sherman's profile image
Ariella Sherman's profile image
Ariella Sherman
  • from Chicago, Illinois
  • Member since Mar 20, 2017
Connect
Ariella Sherman
  • Chicago, IL
4
Votes |
14
Posts
Buying & Selling Real Estate

What is a Seller's Credit?

Ariella Sherman
  • Chicago, IL
Posted

I am interested in buying a SFH in South Bend, IN, I would like to offer 70k but I can only get a minimum loan amount of 80k (60k loan with 25% down) from a conventional mortgage. The seller is offering a "seller's credit to make it work." What does that mean?

I am looking into a personal loan, but would prefer conventional mortgage because the interest rate will be so much lower. 

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