Can you please tell me if it is possible to get a first mortgage from a lender for 50% of the home price, and have the seller carry a second mortgage for the other 50% with no payments for 15 years?We are interested in a home where the seller might be interested in structuring it this way, as his home is totally paid off. Are there any lenders that would go for this?
San Antonio,TX | Sep 21st 2009
by bigtexa...
Answer
by Rate1st...
by michael...
This is definitely a possibility but i would need to know a bit more information about the overall situation. First being what type of property are you trying to buy? Have you been pre-approved for the sales price? What is the location of the property...address etc. If you like we can schedule a time where you can ask any additional questions you may have for this process.I can be reached at: info@mikepanza.com Thank you Sep 21st 2009 |
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