The History of Seller Financing

2020-09-25T14:29:26-04:00

The history of seller financing. Most people who want to buy a home start by contacting banks and lenders to apply for a mortgage. It takes considerable due diligence to determine your creditworthiness and the value of the property you want to buy. Once you’re approved, the bank may lend you the money for a home. It’s hard to believe, but this kind of home buying process people didn’t always exist. Imagine living in the early 1900’s, when homes were paid for in full of savings or privately financed with a 50% down payment and a 5-year, variable-rate loan. After 5 [...]