OFFER TO PAY X IN CLOSING COSTS

The seller provides financial assistance to the buyer, typically in the form of covering a portion of the buyer’s closing costs or other expenses related to the property purchase.

SELLER-FUNDED

Permanent Buydown

The seller contributes upfront funds to reduce the borrower’s mortgage interest rate over the life of the loan, resulting in lower monthly payments for the buyer.

SELLER-FUNDED

Temporary Buydown

The seller provides upfront funds to temporarily lower the borrower’s mortgage interest rate during the initial years of the loan, leading to reduced monthly payments for the buyer during that specified period.

ASSUMABLE MORTGAGE

An assumable mortgage allows a buyer to take over the existing mortgage terms and payments from the seller.

LEASE OPTION & LEASE PURCHASE

A tenant has the option to purchase the property at a predetermined price during or at the end of the lease term, providing flexibility for potential buyers to test the property before committing to ownership.

OWNER FINANCING

The property seller acts as the lender, allowing the buyer to make payments directly to them over an agreed-upon period, bypassing traditional mortgage lenders.

CONTRACT FOR DEED

This works just like owner financing with one extremely important exception – ownership doesn’t change hands until the entire sales price is paid in full.