Seller financing is when a seller helps to finance a real estate purchase by “taking back” the financing. Often the seller does this when a buyer has difficulty qualifying right away for their own loan.
Some of the major advantages of seller financing include:
· Buyers may be able to buy a home they don’t currently qualify for with conventional financing.
· Buyers may purchase a property with a small down payment.
· Savings by eliminating nearly all loan fees ordinarily charged by traditional Lenders.
· Often times Buyers with the help of Seller Financing improve the property which creates value (equity) for them.
If you are interested in finding out more information on Seller Financing, please contact Robert Heideman, our Loan Department Manager at 314.725.3320 x.150.