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unable to find lender

If I can not find a lender to finance a home because there are no comparable can the seller owner ( not sure if it has a mortgage on it) finance it  to us and we would make necessary adjustments to become a 2 bedroom home so it would have the necessary  comparable s for appraisal   then finance it as first time buyer or refinance in order to payoff the owner?  
  • August 16 2012 - Breaux Bridge
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Answers (1)

Profile picture for The Mortgage Mark
If the seller is willing to hold the note they could do the financing for you.  Keep in mind though that he may have a mortgage that would need to be paid off to transfer the title to you.  So with him holding a big note he may be unable to do that.  If they are willing you would then be able to refinaince if you and the property qualifies to pay him off. 
  • August 17 2012
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