Sellers Tips

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Tips for Sellers

How are the rates set for seller financing?

The interest rate on an owner-carried loan is negotiable. Ask your agent to check with a lender or mortgage broker to determine the current rate on institutional first (or second) loans.

Seller financing typically costs less than conventional financing because sellers don't charge loan fees (points). Interest rates on an owner-carried loan will also be influenced by current Treasury bill and certificate of deposit rates. Sellers usually aren't willing to carry a loan for a lower return than they would earn if their money was invested elsewhere.

Provided By Inman News

-Return to Seller's Questions

Real estate data displayed on this Web site come in part from the IDX program of the Traverse Area Association of REALTORS® (TAAR). Listings held by brokerage firms other than CENTURY 21 Northland are marked with the MLS logo and are provided courtesy of the brokerage firm holding the listing; detailed information about the listing includes the name of the listing broker.

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