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Updated almost 9 years ago on . Most recent reply

User Stats

68
Posts
25
Votes
Roger Pokorny
  • Rental Property Investor
  • Muncie IN
25
Votes |
68
Posts

Carryback Loan for Downpayment

Roger Pokorny
  • Rental Property Investor
  • Muncie IN
Posted

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.

Most Popular Reply

User Stats

35
Posts
12
Votes
George Flevotomos
  • Investor
  • Chicopee, MA
12
Votes |
35
Posts
George Flevotomos
  • Investor
  • Chicopee, MA
Replied

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.

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