By Admin on Feb 7, 2010 in Renting & Real Estate
katy asked:
The seller will carry financing at 7.5% interest on a 20 year amortization on a 2 year balloon. The property is being offered CFD with 10% down. Is this a good deal – I’m not sure…
The problem is that I can’t get a loan right now due to my credit score. Is a 2 year balloon like a 2 year rent to own contract?
The seller will carry financing at 7.5% interest on a 20 year amortization on a 2 year balloon. The property is being offered CFD with 10% down. Is this a good deal – I’m not sure…
The problem is that I can’t get a loan right now due to my credit score. Is a 2 year balloon like a 2 year rent to own contract?
Considering you can get 6% or less at a lender, 7.5% is a great deal, for the seller.
godged | Feb 10, 2010 | Reply