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Updated almost 9 years ago on . Most recent reply
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Carryback Loan for Downpayment
Will lenders allow a seller carryback loan to cover the down payment? I have the funds to cover the down payment, but want to keep them available for other investing.
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Some will allow it but most won't. It depends on the lender, your relationship with them, your past experience etc, but they usually want you to have skin in the deal. Your chances improve if your purchase price is below appraised value.