re: Buying A Home With Owner Financing

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I dunno, if you qualify for 4% and have the 20% cash downpayment, I would not be looking at the owner financing.

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Many banks will admin the loan, I owner financed for someone and had the bank service the loan, they printed a payment book and the payments went directly into a savings account for me for a small fee.

Terms were just as clear as with any other mortgage including schedule, payoff, and late payment penalties.

there is lots of ignorance masquerading as knowledgeable advice in this thread, just compare whatever rates you can negotiate both ways.