Sometimes, North Florida home buyers request the seller to carry back a second mortgage to help ease the purchase of their home. In situations when the seller does not need all the proceeds from their sale in order to purchase their next home, this is a viable option. The buyer reaps the benefits by combining his own down payment and the second mortgage from the North Florida seller, then he may be able to steer clear of paying mortgage insurance and save himself some money.  If a carry back is included in your offer, you should add the terms you wish to pay on such a second mortgage. Your first trust deed North Florida lender needs to know this information so they can underwrite your loan and they have certain minimum requirements. The minimum period of the second mortgage can be five years.