Asked by Marie Rehbein, Morgantown, WV • Fri Oct 17, 2008
in the home is such that I can offer seller financing. Since I am not a bank, I do not have to make my loan marketable, so I do not have to charge PMI or demand 20% down and all the fees banks charge. I am looking for a 10% nonrefundable down payment on a 5 year ballon loan, charging 5.25% interest with payments amortized to a 30 schedule. By the time 5 years is up, the buyer will have close to a 20% investment in the property. The buyer can sell or finance with a bank any time. Morgantown is a great place to live. Lots of theater, dance, music, sports, outdoor recreation, excellent grocery shopping and restaurants. Anyone intersted?
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