FAQ
QUESTIONS & ANSWERS
Frequently Asked Questions
What is seller financing?
Seller financing is an arrangement where the seller of a property provides
financing to the buyer instead of a traditional lender.
Who is eligible for seller financing?
Buyers who may not qualify for traditional financing due to factors such as low credit scores, limited income, or recent bankruptcies may be eligible for
seller financing
How does seller financing work?
Seller financing typically involves the seller holding a mortgage on the
property. The buyer makes payments to the seller, similar to a traditional mortgage.
What are the benefits of seller financing?
Seller financing can offer flexibility, faster closing times, and potentially lower interest rates compared to traditional mortgages.
How much can I afford to borrow through seller financing?
Your eligibility for seller financing will depend on various factors, including
your income, the property’s value, and other factors.
What are the typical interest rates for seller financing?
Interest rates for seller financing can vary depending on market conditions
and the risk profile of the buyer
What happens if I default on my seller financing loan?
The seller may have the right to foreclose on the property if you default on your payments.
How does the seller financing process work?
We’ll guide you through the process, including negotiating terms, obtaining
financing, and closing on the property.
What documents do I need to provide?
We’ll provide a list of necessary documents, including proof of income, bank statements, government ID, and more.
What are the typical closing costs for seller financing?
Closing costs for seller financing can vary, but they are generally the same
traditional mortgage closing costs.
Can I prepay my seller financing loan?
The prepayment terms may vary depending on the agreement.
Can you help me find a suitable property?
We can assist you in finding properties that fit within your budget and
preferences.
How long does the seller financing process take?
The timeline can vary depending on various factors, but we strive to close
deals efficiently.