Seller Financed and Owner Carry
What Is Owner Financing?
Owner financing happens when a buyer finances the purchase directly through the seller, instead of going through a conventional mortgage lender or bank.
How Does Owner Financing Work?
It is similar to a regular loan with a bank except, with owner financing or seller financing, the seller holds an Instead, the seller holds a promissory note, less any down payment, from the buyer that spells out the terms of the loan. Then, the buyer makes regular payments until the amount is paid in full.
