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Jay Rogers
The Real Estate Savings Center, LLC
1233 Spoon Court
Mt. Pleasant, South Carolina,
Office: 843 849 7587
Cell: 843 367 7587
Fax: 800 889 1847
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Lic. #: 24852
how rates are set for seller financing PDF Print E-mail

How are the rates set for seller financing?

The interest rate on an owner-carried loan is negotiable. Ask your Isle of Palms 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.
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Last Updated ( Thursday, 04 September 2008 )
 
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