For the borrower

A Seller Mortgage could be a really smart way to finance your home purchase. Below are a few reasons why. But most important is to make sure it fits. Call us and we can help create a mortgage that fits like the glass slipper you lost at the party last night.

Save money.

A Seller Mortgage means lower closing costs. Which could potentially mean thousands of dollars in savings. If the financing is structured right, you can literally save thousands of dollars in application fees, buy-down points, and other up-front charges that banks and mortgage brokers often require as the price of a loan.

Make up the difference.

Traditional mortgages fall short for many buyers. For example, a buyer may only qualify for $140,000 in bank financing for a house that costs $200,000. This can often be a deal breaker. But if the seller is willing to carry back $60,000, the transaction can still go through.

Get a mortgage.

Many people do not even qualify for conventional financing—even if they have a strong credit history. First time homebuyers, self-employed individuals and non-resident aliens are just a few examples. With our Seller Mortgage the only qualification that the buyer needs is approval by the seller.

Stay friends.

If you’re entering into a Seller Mortgage with someone you know, we don’t need to tell you that mixing money and a relationship can be tricky. That’s why we’re here. With Virgin Money managing your Seller Mortgage you don’t need to talk business with your lender unless you want to. Plus, we can help plan, change, or restructure a loan—keeping it, and your relationship, on track.