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Updated over 1 year ago,
Can you assume a loan in conjunction with seller financing?
Here is the scenario the owner wants 200k for a home. You cant use a 200k conventional loan. He owes 100k on the property......
Can you assume his 100k loan and then also do a seller finance for the other 100k?
If so would it be any different than doing both of these things separately? Would you have to let the bank know you are doing a seller finance on half of the deal? Or do you not have to disclose this information? Thank you!