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Updated almost 9 years ago, 01/07/2016
Can A Seller Finance A Downpayment?
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?