My wife and I get creative with our financing. We maximize sellers assist with commercial loans because there’s no limit. For example if the seller is asking 120k we’ll offer them 150k with 16% sellers assist. Thus leaving the seller with 123k at closing and us 27k towards our closing costs. It’s a way to fool the bank into financing our downpayment. We also wave inspections to sweeten the deal. Obviously don’t tell your lender either because all they need is a copy of the sales agreement and don’t need to k on anything else besides the price and sellers assist amount.
Easiest way is to negotiate a smaller down payment. Some local banks might be willing to, but they would likely want a lien preference ahead of the seller and will want to see RE experience. You can also get private financing on this from a friend or a family member.
My wife and I get creative with our financing. We maximize sellers assist with commercial loans because there’s no limit. For example if the seller is asking 120k we’ll offer them 150k with 16% sellers assist. Thus leaving the seller with 123k at closing and us 27k towards our closing costs. It’s a way to fool the bank into financing our downpayment. We also wave inspections to sweeten the deal. Obviously don’t tell your lender either because all they need is a copy of the sales agreement and don’t need to k on anything else besides the price and sellers assist amount.
My wife and I get creative with our financing. We maximize sellers assist with commercial loans because there’s no limit. For example if the seller is asking 120k we’ll offer them 150k with 16% sellers assist. Thus leaving the seller with 123k at closing and us 27k towards our closing costs. It’s a way to fool the bank into financing our downpayment. We also wave inspections to sweeten the deal. Obviously don’t tell your lender either because all they need is a copy of the sales agreement and don’t need to k on anything else besides the price and sellers assist amount.
Is this only possible with commercial property loans? Incredible idea though!
My wife and I get creative with our financing. We maximize sellers assist with commercial loans because there’s no limit. For example if the seller is asking 120k we’ll offer them 150k with 16% sellers assist. Thus leaving the seller with 123k at closing and us 27k towards our closing costs. It’s a way to fool the bank into financing our downpayment. We also wave inspections to sweeten the deal. Obviously don’t tell your lender either because all they need is a copy of the sales agreement and don’t need to k on anything else besides the price and sellers assist amount.
Is this only possible with commercial property loans? Incredible idea though!
Yes only commercial loans, from our knowledge the cap on conventional,fha, and etc is 6%
My wife and I get creative with our financing. We maximize sellers assist with commercial loans because there’s no limit. For example if the seller is asking 120k we’ll offer them 150k with 16% sellers assist. Thus leaving the seller with 123k at closing and us 27k towards our closing costs. It’s a way to fool the bank into financing our downpayment. We also wave inspections to sweeten the deal. Obviously don’t tell your lender either because all they need is a copy of the sales agreement and don’t need to k on anything else besides the price and sellers assist amount.
Is this only possible with commercial property loans? Incredible idea though!
Yes only commercial loans, from our knowledge the cap on conventional,fha, and etc is 6%
Hey Patrick! Would it ok for me to message you privately and talk more about this? I'd absolutely love to learn more.
My wife and I get creative with our financing. We maximize sellers assist with commercial loans because there’s no limit. For example if the seller is asking 120k we’ll offer them 150k with 16% sellers assist. Thus leaving the seller with 123k at closing and us 27k towards our closing costs. It’s a way to fool the bank into financing our downpayment. We also wave inspections to sweeten the deal. Obviously don’t tell your lender either because all they need is a copy of the sales agreement and don’t need to k on anything else besides the price and sellers assist amount.
Is this only possible with commercial property loans? Incredible idea though!
Yes only commercial loans, from our knowledge the cap on conventional,fha, and etc is 6%
Hey Patrick! Would it ok for me to message you privately and talk more about this? I'd absolutely love to learn more.