I just saw this text in the description of a property: “Owner will carry 10% down @5% amortized over thirty due in 10 years and no loan origination fee, saving buyer $1000’s!”
I have no idea what it means for the owner to “carry” something. Are they saying that they will defer 10% of the purchase price for 10 years at 5%/year? I don’t think this is something I would want to do, but I’m curious what they are talking about.
submitted by /u/blivet
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I just saw this text in the description of a property: “Owner will carry 10% down @5% amortized over thirty due in 10 years and no loan origination fee, saving buyer $1000’s!” I have no idea what it means for the owner to “carry” something. Are they saying that they will defer 10% of the purchase price for 10 years at 5%/year? I don’t think this is something I would want to do, but I’m curious what they are talking about. submitted by /u/blivet [link] [comments]
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