High finance charge rates will hold most buyers back from investing in real estate. This means that you could miss out on your dream home or a good deal.
However there is a viable option that most people may not realize. This is called seller financing. Seller financing allows a buyer to secure a lower rate by financing with the seller of the property. If this makes sense for the seller the finance charge you pay will go to them. So they are now the money institution you are financing with.
For my customers this is a good way to pay less finance charge and can also help you avoid long term loan options.
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