Seller Financing-random question

[Crystal Hoover]

I'll try to make this short. I am a traveling nurse and while I make good money and have great credit, banks see my job as a liability because it is contract work. Therefore most travel nurses have a hard time getting a traditional home loan. I want to potentially go into a seller financing deal with someone on an investment property and understand that the balloon clause is typically 5 years. I am unsure if I will still be working as a travel nurse in 5 years or if I will have settled down as a "traditional" staff nurse. 

Does anyone know: If I go into seller financing with someone and am able to show on time payments with the seller loan for 5 years if the bank sees that as enough to finance the loan from there? Or would my job "liability" still trump my good loan history?

Thanks in advance!

[Derek Dombeck]

Seller financing does not have a standard balloon payment of 5 years or any other standards for that matter.  It's all in the negotiation. I typically structure an  extension right away in the event of a balloon after several years. I simply ask the seller, if for any reason, I could not pay off the balloon, do they want the house back? They almost always say no. Then I offer them an additional principal payment like $5,000, to get an extension for 5 more years. I may also offer to increase the interest rate a bit too. My point is, you can structure anything you want. I haven't used a bank for an investment deal in 10 years and I have no desire to do so.