Seller financing is a mode of house mortgage unlike the mortgages offered by conventional banks. It is clear that the banks allow loans to individuals with good credit scores and worthy customers and ask for interest rates depending on their risk profile. Individuals with poor credit scores can use seller financing in which the seller offers the buyer a house and asks for lower down payments than banks and sometimes lower installments.
The reason that buyers use seller financing is that they have no access to loans. The sellers financing arrangements are often used when the banks are not offering any loans during credit crisis periods.
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