Creative financing with a 4plex

[Bryan Pham]

Hi BP,

I am trying to do some creative financing with my current potential deal. I want to do seller finance with the owner who does not own his property free and clear. He told me that generally, the rules of Seller finance means that the property is typically paid off, if he agrees to seller finance with me the bank will force him to pay the remaining balance on the property. I do not have a big enough down payment or funds to help him pay off the remaining balance. 

So my question is, could I somehow assume over his mortgage, take over a conventional mortgage and lets say put down 10-15% of the difference between the purchase price and his mortgage? Is this even possible or legit? I am trying to see what I could do in this position to make this deal work. Thank you BP.