What Is Land Owner Financing?
Purchasing anything of significant value is rarely a straightforward task, particularly when financing is in the equation. For anyone looking to become a landowner, securing a loan comes with a whole new set of considerations and difficulties, and it can feel overwhelming knowing what option is best for you.
Owner financing offers a straightforward and hassle-free method for financing your land purchase. Instead of going through a bank or mortgage company, you work directly with the property owner. Owner-financed land, also known as “seller financing,” offers an alternative to traditional bank loans. With this setup, you make payments directly to the seller until you’ve paid off the purchase. No need for a third-party financial institution. The owner provides simple terms, the land itself acts as collateral.
Buying land should be straightforward and affordable. We offer landowner financing to make your purchase easier. Here’s what you need to know about our owner-financing process:
Select Your Land
Browse our properties that are eligible for seller financing and pick the one that’s just right for you.
Agree on Terms
Discuss and agree on the loan details with the property owner.
A low down payment is all you need to secure your property investment.
Send your monthly payments to the seller’s servicer directly.
Complete the Loan
Continue with the payments until you’ve paid off the loan at which point you will own the property free and clear.
Advantages of Land Owner Financing
It’s simpler to qualify for owner financing than a traditional bank loan. This can be especially helpful if your income is irregular or if you’re self-employed.
Owner financing might require less money upfront compared to banks, which often want at least 20% down.
With less paperwork and no bank approvals needed, you can get your land faster.
You could save money on closing costs because there are fewer administrative fees without a bank in the mix.
One of the biggest perks is the significantly reduced amount of paperwork to fill out.
Alternative Financing Options
Whether you are buying your first tract of Texas land or are a seasoned Texas land investor, we have the beautiful acreage and financing options to make it possible for you to own land in Texas. It’s important to research and compare the different types of bank financing options to determine which one is right for you.