Owner Financing

Purchase money mortgage is a home financing technique by which a buyer borrows from the seller instead of from the bank. Often both the seller and the bank are involved in the transaction and both of them make loan advances for financing the property.

Purchase money mortgages provide you with an alternative when you fail to qualify for a bank loan or the entire loan amount. Such home loans are commonly known as seller financing or owner financing.

Most of these home loans have a loan term of 1 or 2 years or they may also continue up to 5 years. Prior to getting a purchase money mortgage, a lender should provide you with complete copies of the appraisal or other documents that are helpful in evaluating the property-value.

After the term is over I would hope you would seek my consultation.