A seller take-back is a form of financing offered by the seller of the home to the buyer. It is not considered a loan because there is not any actual money involved, but it must be paid with interest just like a loan. For example, if a home that is selling for $100,000 has a $60,000 assumable mortgage, the seller can offer to assume a portion of the remaining balance as collateral in the home and have the buyer make monthly payments on the amount that is still outstanding. Sellers will require that the buyer makes a deposit, and they will hold a note on the home for the remaining balance until it is paid in full. This note is separate from the mortgage. This type of transaction has many benefits and drawbacks and should only be conducted under the supervision of an experienced real estate attorney.