Is that a good way to get around the problem of not having enough time for closing before the deadline? Because with seller financing you can rush it as much as you want to?
To the person who answered "credit, yes, cash, no" etc., your answer is not clear at all. What credit? What cash? What equity? Whose equity? Who do you mean by "you", the buyer or seller? What specific FHA rule would be violated?
4 thoughts on “Does a house with seller-financing qualify for the $8000?”
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As long as the deal closes and the title is in the buyers name it does not matter who did the financing
credit, yes, cash, no.
because you are in an equitable position but you put nothing down
and ignored the FHA rules.
Yes, as long as the title is in your name. The Seller is basically acting as the bank in seller financing so there would be no difference and it would qualify. Understand, this can not be a lease option. The property has to be recorded in your name at closing just like with bank financing.
Good Luck!
Do you really think a stranger would sell you their home without a credit check? Without a down payment? If your trying to pull a fast one with a friend that’s tax fraud. You also can not purchase it from a relative