Yes, if you're only getting 80% from the bank or some other lender. If you were able to get 90% financing, then you would basically be getting in with no money down. Just make sure that the sellers financing terms are reasonable. Sometime sellers will carry a percentage with a certain percentage down. For example, they might be willing to carry 10% with 10% down. Try asking the seller to finance a bigger percentage if not most of it. I always ask for seller financing first....Good luck!
Jan 6, 2009