945 N Lakewood Dr

What the listing says

?? STOP RENTING BECOME A HOMEOWNER! ?? SELLER FINANCING AVAILABLE ?? Looking for a path to homeownership without going through traditional bank financing? This move-in ready, 3-bedroom, 2-bath home in Shreveport is available with seller financing. ?? SELLER FINANCE TERMS ?? Purchase Price: $150,000 ?? Down Payment: $10,000 ?? Interest Rate: 8.5% ? Term: 5 Years ?? Monthly Payment: $1,375 ?? Balloon Payment: Approximately $133,600 after 5 years ?? HOW DOES SELLER FINANCING WORK? Instead of getting a traditional mortgage from a bank, the seller finances the purchase for you. You bring $10,000 down, and the remaining $133,600 is financed at 8.5% interest with payments calculated on a 20-year amortization. You make monthly payments for 5 years. At the end of the 5-year term, the remaining balance, approximately $133,600, becomes due as a balloon payment. ?? Most buyers plan ahead to refinance the remaining balance with a bank or lender before the balloon comes due. ?? IMPORTANT UNDERSTAND YOUR $1,375 PAYMENT ?? Your $1,375 monthly payment includes PITI, similar to a traditional mortgage payment: P Principal I Interest T Property Taxes I Homeowners Insurance ?? The full $1,375 does NOT go toward paying down the $133,600 principal balance. Each month, the payment is applied toward the costs included in the mortgage payment, including interest, property taxes, and insurance, with the principal portion reducing your loan balance. Need guidance? We can refer you to a credit professional who can help you understand where your credit stands and what steps you can take to become refinance-ready before the balloon payment is due. ?? ?? PROPERTY DETAILS ?? 945 N Lakewood Dr, Shreveport, LA 71107 ??? 3 Bedrooms ?? 2 Bathrooms ?? 1,360 Sq. Ft. ?? INTERESTED? If you're serious about homeownership and would like to schedule a time to see the property, contact: ?? Shevy 318-588-7134