In certain circumstances, we may be able to provide Seller financing for your purchase of a property from our
Buy Idaho Foreclosures.com inventory.

All Seller financed loans are short in duration as they are meant only to provide bridge financing to allow the Buyer time to renovate the property in order to resell it or refinance it with a permanent loan after repairs are complete.

To qualify for Seller financing, it will be necessary that you make a specified minimum down payment, which may vary with each property, but will be not less than ten percent (10%) of the purchase price. The amount of the down payment and the financing terms will depend upon the age and condition of the property, your plans for the property, and the loan to value ratio.

Although the specific terms of each property’s available financing may vary depending upon the above conditions, in general, the basic loan terms would include: 1) loan origination fees of not less than 1% of the face amount of the loan; 2) document preparation fees of $995.00; 3) interest only payments with an interest rate of 1.25% per month (15% a.p.r.); 4) a six-month term with a balloon payment at the end of the term; and 5) the loan may be prepaid without penalty at any time after the first 30-day period.

In instances where the six-month term will expire before a refinance or resale can occur, two additional separate three-month extensions of the loan may be available for an additional fee for each extension granted.

The entire transaction is documented by a Promissory Note and Deed of Trust, which can be prepared and recorded very quickly.

To determine whether the property you wish to purchase qualifies for Seller financing and what the terms and conditions of such a loan may be, please contact our office directly to discuss the particular loan terms that may be available for the property you are interested in.