Seller Financing

One of the main benefits of seller financing is that the buyer can often get approved for a loan with more lenient credit requirements. Traditional lenders, like banks, have strict credit requirements and may not approve a loan for someone with a low credit score. However, with seller financing, the seller can be more flexible and may be willing to overlook a buyer's credit history.

Seller financing can also provide more flexibility when it comes to down payment and closing costs. Traditional mortgages typically require a down payment of at least 20% of the purchase price and the closing costs can add up to several thousands of dollars. With seller financing, the buyer may be able to negotiate a lower down payment or even no down payment at all. Additionally, the closing costs may be less expensive or non-existent.

Another benefit of seller financing is that the buyer can often negotiate more favorable terms. For example, the interest rate may be lower than what a traditional lender would offer. Additionally, the term of the loan can be flexible and tailored to the buyer's needs. This can make the monthly payments more affordable and help the buyer to build equity in the property.

Seller financing can also be a good option for buyers who want to purchase a home that is not eligible for traditional financing. For example, a buyer may want to purchase a fixer-upper or a property that needs a lot of work. With seller financing, the buyer can negotiate a purchase price that takes into account the cost of renovations and the seller can provide the financing for the repairs.

If you are in need of financing, we can help! Contact our team today!