Definition
Financing directly from the property developer, typically with easier qualification requirements but higher interest rates (12-18%). Terms are usually shorter (5-10 years) compared to bank financing. Common for preselling properties.
Examples
- •Developer offers 0% interest during construction period
- •In-house rates: 12-18% per annum, 5-10 year term
Tips & Best Practices
- ✓Good option if you don't qualify for bank loan
- ✓Higher monthly payments due to shorter term
- ✓Consider refinancing to bank after turnover
Related Terms
More in Financing Terms
Need Help with Your Property Search?
Browse properties or use our tools to make informed decisions