Seller Financed Refi Questions

[Ryan Bakerian]

Hi had a client approach me about a question I wasn't sure the answer to. He was looking at purchasing a seller financed house with a 5 year balloon. At the end of the 5 year balloon he is looking to refinance the property with no money down. He would have to have 75% LTV in the property via a bank appraisal to complete this correct? His only fees would be the bank fees on the refinance?

[Robin Simon]

There is no way to know what the lending landscape and his options will be in five years from now - that type of loan could still be available or there could be some differences - including nuance with the specific property, location, etc