All of the properties available here at Earth & Land have financing available. Our financing doesn’t include a background check or running your credit report. As long as you can afford the down payment and are committed to making your required monthly payments going forward, we will be happy to work with you and help you own a great piece of land.
No Interest – 0%
The best part of our financing is that we don’t charge an interest rate, try and find that from a traditional lender! We also won’t charge any setup, note servicing, or other hidden fees like some of our competitors like to do. The monthly payment amount you see on the property listing is exactly what you will be paying. It’s as simple as that.
Flexible Payment Terms
While we typically list a down payment and monthly payment amount on our property listings, both of these are always open to negotiation. For example, if you can afford to make a larger down payment, we can usually reduce the monthly payment amount going forward, or the total number of payments due.
No Pre-Payment Penalty
We encourage all land investors who take advantage of our financing option to pay down their balance as fast as possible. With that in mind, we will never charge a pre-payment penalty. You can even increase your monthly payments if you would like, or make various one-time payments to help get the loan paid off faster.
Depending on the state the property is located in, we will use what is commonly referred to as a Land Contract, or Contract for Deed for purposes of documenting the financing arrangement. Under this agreement, we will retain the title to the property, while still permitting you to take possession of it and use it, until the point in time you pay off the loan in full and we then send you the full legal title. If you are familiar with how a car loan works, this is very similar.
Within the Land Contract are certain clauses that advise you, not to build a permanent structure on the property until you have paid off the loan and officially own the property, not to remove more timber than is necessary to enjoy the land and build temporary shelters, and not to engage in any illegal activities on the property. We are happy to send you a template of the Land Contract if you would like to look it over before making your down payment.
How it Works
Once you have decided to take advantage of our financing option on the property you want to purchase, you will be required to make a down payment to secure it. After we receive your initial down payment, we will prepare and send you a Sale Agreement, a Land Contract, and a Promissory Note. Once these three documents are signed, you can begin enjoying your new land immediately. We will also work with you to arrange the best way for you to begin making your monthly payments going forward. Once you have made your final payment and the balance is paid in full, we will prepare a new Deed and transfer the legal title to you. At that point, you will officially own the land and are free to build a permanent structure, leave it vacant, or resell it in the future if you would like.
If you have any further questions about our financing, please Contact us.