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Updated over 7 years ago,

User Stats

4
Posts
0
Votes
Philip Fraccalvieri
  • Real Estate Investor
  • Centereach, NY
0
Votes |
4
Posts

Seller Provided Financing For Down Payment

Philip Fraccalvieri
  • Real Estate Investor
  • Centereach, NY
Posted

I'm curious if it is possible for the seller to finance my downpayment. I'm looking to purchase a duplex in Long Island, NY. A down payment of 20% would be $70,000 for the property. I currently have $100,000 in cash but I don't want to tie that up. Has anyone done this type of deal and is it even possible to do since I want to get a conventional mortgage on the property and I'm not sure if the mortgage company would even allow this.

If this can't be done what other creative financing options can I explore?

Any feedback would be greatly appreciated.

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