what is the typical amount of balloon payment for a home financed by the seller

usually 3 to 5 yrs .. it is so you can get your credit or income built up.. linda

As Linda stated, up to five years is the norm.

When it comes to "Seller Financing" there is no "Typical" they can do anything they wish since it's them doing it.. But I will caution you when it comes to seller financing.. Typically the only properties that are being offered this way are distressed properties, or over priced properties.. Distresses properties are homes that cannot be sold using conforming loan products because the property has deficiencies that are not allowed, so unless the seller offers financing on them, they would not sell.. An investment strategy that is used quite frequently, is to do seller financing with a large down payment... they give the buyer 2 or 3 years to "Clean up" there credit so they can obtain conventional financing in the future.. but the seller/investor knows that they are not likely to get the credit cleaned up in time, so when the loan matures, they either renegotiate the terms, ie.. higher sale price or more down payment, or both, or if you don't agree to the renegotiated terms, they foreclose and find some other person to buy it.. In this market where everything is selling, there is no need for a seller to offer financing.. So "Buyer Beware!" I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com