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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.
 

Contact Information

Joel Nelson
Keller Williams Realty Kalamazoo
8075 Creekside Drive
Portage, Michigan, 49024
Office: 269-492-7582
Cell: 269 760-1558
Fax: 888-234-7221
Email Us
HomesofSWMichigan.com
monitoring your ARM loan | Print |  E-mail

How do I monitor my ARM loan?

Consumer Loan Advocates publishes a book with form letters and worksheets to help people who want to check mortgage payments or adjustments on their own. It costs $19.95 plus $4 shipping and handling. For a copy, write or call Consumer Loan Advocates, 655 Rockland Road, Lake Bluff, IL 60044; (847) 615-0024.
Questions about Kalamazoo & Portage Michigan Real Estate?

Ask us below or Call us Now at 269-760-1558
 
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