Creative Financing 101 » seller carry back mortgage http://creativefinancing101.com Guide to Zero Down, Bad Credit, FHA, Seller Financing, and Hard Money Loans Sat, 06 Mar 2010 00:37:43 +0000 en hourly 1 http://wordpress.org/?v=3.0.4 What is a Seller Carry Back Mortgage? http://creativefinancing101.com/20239/what-is-a-seller-carry-back-mortgage/ http://creativefinancing101.com/20239/what-is-a-seller-carry-back-mortgage/#comments Wed, 18 Mar 2009 02:28:44 +0000 Jamie Beck http://creativefinancing101.com/?p=239 question-markWhen borrowers need creative financing, they often look for mortgages funded by the seller. However, several types of seller financing are available and it can be difficult to tell the difference. Today I want to examine the seller carry back mortgage.

In essence: A seller carry back mortgage allows a buyer to take out a small loan from the seller in addition to his primary loan from a bank. In this way, buyers are able to avoid pricey PMI (mortgage insurance) payments to the traditional lender and compensate for having a down payment less than 20%.

To learn more, see: The Seller Carry Back Mortgage

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