Sometimes when purchasing a home, it just makes more sense to have the seller carry the financing for the buyer. One key ingredient for making this work is the buyer having adequate cash to make a down payment on the home. Usually a seller will need a buyer to put down at least ten percent of the purchase price to encourage the seller to finance. Most of the time a seller will ask for more, say fifteen or twenty percent down payment.
Seller carry interest rates are usually higher than other loan rates, but not always. Rates for seller carry can be expected to be 2-5% higher. At the same time the closing cost to have a seller carry are usually less than other loan closing costs.
To assist you in your search for Seller May Carry Homes For Sale Phoenix Metro, we have broken down the search into price ranges for your convenience:
Should you have further questions about seller financing, please do not hesitate to contact Bob Marsh, Warm Weather Real Estate, 480-529-2936