Mortgage Loans: Obtaining Seller Financing

If you are shopping around for mortgage loans, you might also want to consider trying to obtain seller financing. Seller financing is an often overlooked alternative that could get you into the house that you want. Here are a few things to consider about obtaining seller financing.

Talk to the Seller

When you have located a house that you want to purchase, you need to talk to the seller about the idea of seller financing. Many sellers do not even consider this as an option even though they would be willing to do it. This is an especially useful strategy when the seller is dealing with a property that they have had trouble selling. Ask the seller if they would be open to the idea of seller financing. If they are open to the idea, you can start discussing potential terms of the agreement.


You will need to agree on several things in order to come up with a seller financing agreement that works for both parties. You need to determine what the interest rate on the loan will be. You also need to determine what the length of the loan is going to be as well. Many sellers will also want some type of down payment at the beginning of the contract.

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