Seller Financing Defined -

Find out if Seller Financing makes sense for you.

Seller financing (also known as an owner carryback, a land contract, or a private party mortgage), is when the seller allows the buyer to purchase property over time. Instead of taking out a loan from a traditional lender, you make principal and interest payments directly to the seller.

If you’re buying a piece of property (mortgage note), seller financing offers the following advantages:
	If your credit is less than perfect, but you’re still capable of making a regular mortgage payment, a seller is often willing to finance the sale directly. Often times a seller who has their home for sale by owner is willing to discuss this option.
	Financing can be difficult to obtain on non-standard properties, such as undeveloped land. Seller financing provides another option.
	Your closing costs can be much lower.
	Paying regularly on a seller financed loan is a significant way to establish credit.
	Because terms are set by you and the seller, you both have greater flexibility.