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Seller 2nds/Carrybacks Are Kosher; See Our Winter Seller’s Guide

seller carrybacksSELLER CARRYBACKS

In yesterday’s blog about how sellers can help buyers, I failed to mention an important avenue – Seller Carrybacks or Seller 2nds.

Almost all conforming loans allow for seller carrybacks as long as: (1) buyers still meet the minimum down payment requirements – usually 5% of purchase price or more; (2) the note’s maturity is 3 years or more; (3) the note has a market rate of interest – it can’t be zero, for example; and (4) the property appraises. Buyers also must qualify from a debt ratio perspective with the additional 2nd mortgage payment accounted for.

FHA does not allow for seller carrybacks, while most jumbo lenders do but with more onerous down payment requirements.


We wanted to share our Winter Seller’s Guide with you – click here to download a copy.  It is a great resource to share with your clients this winter and we are more than happy to co-brand it with our agent partners.

Jay Voorhees
Founder/Broker | JVM Lending
(855) 855-4491 | DRE# 01524255, NMLS# 335646