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Updated over 13 years ago,

User Stats

297
Posts
5
Votes
Travis Elliott
  • Real Estate Investor
  • Cebu, Philippines
5
Votes |
297
Posts

SHOULD I BUY ON A CONTRACT OR BANK FINANCING???

Travis Elliott
  • Real Estate Investor
  • Cebu, Philippines
Posted

I am looking at buying my second house. I just found out that the owner has it paid off so there may be a possibility of doing a contract on it.. I am wondering what the pros and cons are of using bank financing versus a contract..

If I do a contract with a five year balloon and interest rates skyrocket then I have hurt my self correct?

Thoughts?

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