Purchase-Money Mortgage

Eugine · #1 (**permalink**) 10-29-2010, 11:30 AM

A purchase-money mortgage is one of the most unconventional types of home loans in real estate. Known by a variety of names, it essentially allows the buyer to borrow money from the seller instead of from a bank. Though this type of loan is rare, it has several advantages for both parties if the buyer and seller are willing to make certain sacrifices.

Vettori · #2 (**permalink**) 02-16-2011, 08:03 AM

In the case of a hard money borrower looking to get into a property with "as little down as possible," there are ways to get around the LTV requirements of hard money lenders. This usually comes in the form of a seller carry-back where the seller lends the difference between the property value, the amount the lender will provide and the amount the borrower can contribute.

Similar Threads
Thread	Thread Starter	Forum	Replies	Last Post
Open Question: "Seed Money" for commercial real estate purchase?	Administrator	Commercial Mortgages	0	09-10-2008 02:02 AM
What kind of loan will purchase property, then purchase a modular home with almost ha	Administrator	Mortgage Problems and Solutions	0	09-03-2008 10:36 AM
What kind of loan will purchase property, then purchase a modular home with almost ha	Administrator	Mortgage Problems and Solutions	0	09-03-2008 04:50 AM
Moving in with family to save money for home purchase	Administrator	Mortgage Problems and Solutions	0	08-12-2008 05:56 PM
How And Why To Consider A Purchase Money Mortgage	Administrator	Mortgage Know-How	0	04-01-2008 05:42 AM

Thread Tools
Show Printable Version Email this Page
Display Modes
Linear Mode Switch to Hybrid Mode Switch to Threaded Mode

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)

Google Ads Advertisement