A vendor take-back mortgage is a unique kind of mortgage where the seller of the home extends a loan to the buyer to secure the sale of the property. Sometimes referred to as a seller take-back mortgage, this type of loan can benefit both the buyer and the seller. The buyer might be able to purchase property above his bank-determined financing limit, and the seller can get his property sold.
Click to rate this post!
[Total: 0 Average: 0]