As the owner of the properties you see listed on our website, we are able to price and sell to you directly. We are also in a unique position to be able to offer the added benefit of OWNER FINANCING.
What is Owner Financing? Instead of applying at a bank or other lending institution for money to purchase a property, you make regular loan payments directly to us.
What are some of the advantages of Owner Financing?
There are many fees related to the application, processing and service of your loan from almost any other lender. We do not charge any fees at all! No application fees, processing fees, points for origination or discount, no fees for the service of the loan, etc.
Most people try to secure a parcel of land first, and then begin with efforts to build & make improvements. Most of the time if you are working with other financial institutions, that means two sets of “closing costs” such as preparation of documents, attorney fees, recording fees, appraisals, etc- one set when you purchase your land and another when you finance your home. The owner financing we offer allows you to secure your land, then focus on plans for your home, outbuildings, etc. Our financing plans can be set up to have no closing costs at all!
To deter the service of a loan for only a short term, many lenders also impose a pre-payment penalty for early payoff (due to extra principal payment or the borrower’s choosing to refinance). This ensures they will receive much of the cash flow expected when the loan was made. We do not charge any penalty for early payoff. All of our loans are simple interest loans which may be paid off at any time with no pre-payment penalty. Also, any additional money remitted over the payment amount is applied directly to the principal, which can save on the interest charged to the buyer.
If your financial or employment situation is not exactly what lenders are looking for, we will most likely be able to help. We do not use the same criteria for approval - so recent gaps in employment, single income families, excessive debt-to-income ratios, or past credit problems may not disqualify you as a buyer. In fact, most of our loans are donw with no credit check at all
We can be flexible! We attempt to tailor the terms of each owner finance plan, so that it makes sense for both parties: borrower and lender.
What’s in it for us?
We offer owner financing in order to sell more property, spread the income from your purchase over a number of years, and pay the tax liability over a longer period of time.
What is our Finance Policy?
With our owner financing, we ask for 10% down, and finance the balance of the purchase price. With excellent credit, we can work with less than 10% down.
We offer our lease-purchase arrangement with as little as $999 down & a very low monthly payment.
We finance our land parcels through a land contract, and a lease-option arrangement. The loans have a maximum term of 6 years, but payments may be amortized over 30 years, if needed, to keep payments low.
Generally, we carry loans at as low as 8.5% interest, but we do interim (“bridge”) financing at a lesser rate.