This simple solution is doing a owner 2nd for either 10% or 20% of the loan. A lot of people can't get 100% financing and just need a little help. Their credit is good enough to get a loan, but when you add a 2nd loan, where the interest is considerably higher, it takes them out of their affordability comfort zone.

This is where you, as an owner can make some extra money. By carrying a owner 2nd for the buyer at a lesser rate than a bank could. If you were to carry a $60,000 loan on a $300,000 home at 9.5% you would make over $10,000 in interest in just the first two years! If you were to set the contract for 5 years with a balloon payment at the end of 5 years or a 1% increase every year after 5 years, at the end of 5 years you would have made over $26,000 in interest and you would get a balloon payment of $57,528.08.

Would an extra $26,000 from the sale of your home help you out financially? Most people I know it would.

For more information on how to sell your home with an owner 2nd, please feel free to contact me anytime.

Creative Financing

Todd Clark - broker
Kastings & Associates
(503)524-9494
Todd@IFoundYourNewHome.com
www.IFoundYourNewHome.com

 

 


Todd Clark (broker w/ Ken's Home Team)
Keller Williams Realty
Todd@IFoundYourNewHome.com
Phone: (503)524-9494
Fax: (503)746-9573

 

 

 

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 I am a licensed Realtor who specializes in Washington County, Oregon and also work in both Clackamas and Multnomah Counties including the cities of Aloha, Beaverton, Canby, Clackamas, Gladstone, Gresham, Happy Valley, Hillsboro, Milwaukie, Oregon City, Sherwood and Tigard. All information contained in these posts are copyrighted and cannot be used without prior written approval authorization from the author me Todd Clark. If you are looking for an outstanding agent please give me a call I would love to help you with all your real estate needs.

 

What if there was a way you could search the  MLS for FREE just like Realtors

Now you can access the MLS using similar tools as Realtors. You are in control of what you want to search for, and you can search the MLS at your leisure. The information you submit in the form below can also be used to put you on an automated system where you'll be emailed all homes that meet your search criteria. You'll get internet access to a website that includes pictures, prices, and addresses to real estate that's listed in the MLS!

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