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Updated about 9 years ago on . Most recent reply

Bobby Holley's profile image
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Bobby Holley
  • Entrepreneur
  • from Duluth, Georgia
  • Member since Sep 16, 2015
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Bobby Holley's profile image
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Bobby Holley
  • Entrepreneur
  • from Duluth, Georgia
  • Member since Sep 16, 2015
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Bobby Holley
  • Entrepreneur
  • Duluth, GA
5
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68
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Rehabbing & House Flipping

Can A Seller Finance A Downpayment?

Bobby Holley
  • Entrepreneur
  • Duluth, GA
Posted

Here's the scenario: I am purchasing a house from a seller for $198,000. He owes $158,000 on the mortgage. Can I get a loan for $198,000 and instead of putting 20% (roughly $40,000) down with the lender will the lender allow the seller to finance the downpayment after paying off the mortgage?

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Steve Vaughan
  • #1 Personal Finance Contributor
  • Rental Property Investor
  • from East Wenatchee, WA
  • Member since Sep 19, 2014
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Steve Vaughan's profile image
Steve Vaughan's profile image
Steve Vaughan
  • #1 Personal Finance Contributor
  • Rental Property Investor
  • from East Wenatchee, WA
  • Member since Sep 19, 2014
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Steve Vaughan#1 Personal Finance Contributor
  • Rental Property Investor
  • East Wenatchee, WA
16,111
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Steve Vaughan#1 Personal Finance Contributor
  • Rental Property Investor
  • East Wenatchee, WA
Replied

I was going to mention a creative way or 2 that I have done this type of thing before, but only assist, (for free, with no obligation) the pleasant...      

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