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Updated over 14 years ago on . Most recent reply

Stephen N.'s profile image
Stephen N.'s profile image
Stephen N.
  • Accountant
  • from greenwell springs, Louisiana
  • Member since Mar 29, 2009
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Stephen N.'s profile image
Stephen N.'s profile image
Stephen N.
  • Accountant
  • from greenwell springs, Louisiana
  • Member since Mar 29, 2009
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Stephen N.
  • Accountant
  • greenwell springs, LA
43
Votes |
177
Posts
Tax Liens & Mortgage Notes

Attn Notebuyers: How much can I get for this?

Stephen N.
  • Accountant
  • greenwell springs, LA
Posted

I want to sell a home using owner financing and this is how i want to structure it:

Sale Price: $155k (It will appraise for this easily)
down payment: 5%
2nd morgage: 20%
1st mortgage: 75%, 9%, 30 year amortization, 4 year balloon

I would like to sell the 1st mortgage at closing. My question is what kind of credit score would the note buyer be looking for and what kind of discount would I have to give?

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