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Updated over 5 years ago on . Most recent reply

Account Closed
3
Votes |
17
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Can the seller finance some of my down payment?

Account Closed
Posted

The lenders I called will not allow the seller to pay for ANY of the downpayment. I have read stuff where people are getting creative deals where the seller pays for some of the downpayment. I’m not having any luck. What am I doing wrong?

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Patricia Steiner
  • Real Estate Broker
  • Hyde Park Tampa, FL
3,858
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2,465
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Patricia Steiner
  • Real Estate Broker
  • Hyde Park Tampa, FL
Replied

The seller can give a concession towards closing costs but not towards the down payment. I have seen some incredible creative financing options - but all come with at least a 20% down payment.  Have you considered looking for properties with seller financing available - or finding a minority partner in an investment to help with that capital injection?  The down payment is "your skin in the game."  It's just part of being an investor.  

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