Creative Home Mortgage – Seller Carry Back Mortgage | Creative Real Estate Investing For Beginners – Video 6
Creative Home Mortgage – Review
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👉 Creative Real Estate Investing for Beginners series: https://www.youtube.com/watch?v=ULoeuc8H3Nw&list=PLe2E8_qar3hildJ2MjGvyrF8MPyzGLOwI
CREATIVE REAL ESTATE INVESTING FOR BEGINNERS LINKS:
💡Creative Real Estate Investing 101 👉 https://youtu.be/ULoeuc8H3Nw
💡Equity Sharing 👉 https://youtu.be/_CPDW1GvCSc
💡Options 👉 https://youtu.be/tbPwkxkcB70
💡Lease Options 👉https://youtu.be/eIWuYzT92SM
💡Agreement for Deed 👉 https://youtu.be/4hep7mrD_2c
💡Seller Carry Back 👉 https://youtu.be/hQRxYYpxnV0
💡Subject To 👉 https://youtu.be/a002KQipDx8
💡Subject To and Land Trust 👉 https://youtu.be/W1XLBAqQS8k
💡Wraparound Mortgage & All Inclusive Trust Deed (AITD) 👉 https://youtu.be/5n5x76_xKLU
💡How to Negotiate Real Estate Price (and terms!) 👉 https://youtu.be/FRn9SFrzO34
💡How to Find Motivated Sellers 👉 https://youtu.be/JExP0AqkkVw
A seller carry back mortgage (also referred to as seller financing or owner will carry [OWC]), is a form of creative real estate investing.
Rather than a traditional loan from a bank, with a seller carry back mortgage, the buyer is getting their financing directly from the seller instead.
What makes this form of seller financing different than an agreement for deed (the topic of our last lesson), is in a seller financing contract, the buyer officially owns the property so long as they continue their payments.
And just like with an agreement for deed scenario, you’re not negotiating with a bank. This means you’ll have much more freedom to be creative and flexible with the terms of your agreement. This freedom allows you to set things up to be much more beneficial for your side than it might’ve with traditional financing.
0:48 – what is a seller carry back mortgage?
1:04 – what’s the difference between seller financing and a mortgage?
1:38 – other names for a seller carry back mortgage
1:48 – financial security instruments in an OWC agreement
2:47 – the difference between an OWC and an agreement for deed
3:11 – negotiating terms on a seller carry back mortgage
3:28 – the benefits of creative financing through an OWC
4:33 – how to handle a seller carry back mortgage on your purchase agreement
5:22 – using creative financing as a tactic for control
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