What does the bank say? Some loan programs will allow the seller to carry a 2nd. It all depends on the loan guidelines and if the seller is willing to help. If you are going to live in the house, why not go FHA, use a gift program and get in without any money out of pocket.
This may seem like a dumb question, but I am new and I am not sure. I am getting a conventional loan from a bank on a $79,000 home. If I make a deal with the seller where as I can pay the down payment in the future. Who has the final word on the down payment is it the bank or the seller? Can the bank make you pay 5% down or not give you the loan?