Contract For Deed Financing Loan Program
These terms are subject to change at any time. For the most updated rates please contact us directly.
There are two financing options available to borrowers seeking contract for deed financing that are largely dependent on where the property is located within Minnesota.
For borrowers who are looking to purchase luxury real estate we loan up to a 1M purchase price. Please contact us directly for special financing terms.
Our loan program is strictly based off the borrower’s income and cash down payment. Credit plays no role in the qualification process.
Any borrower can elect the 20% down payment option in order to take advantage of the more attractive loan terms. A higher down payment means less risk to us as the investor, so we are able to pass along the savings to our clients.
15% Down Payment Contract for Deed Program
(up to $600,000 sales price)
Our most popular financing program covers all of our primary locations served in Minnesota, which is mostly the St. Paul/Minneapolis twin cities metro.
Loan Terms 15% Down Payment Program:
- 6.99%, 30 yr. fixed rate, no pre payment penalty
- 15% minimum down payment
- Minimum purchase price $225,000 single family house
- Townhouse minimum purchase price $175,000
- 8% added to contract for deed sales price on sell-back
- 5 yr. balloon payment
Not sure if you can afford the monthly payment? Use our Monthly Payment Calculator!
20% Down Payment Contract for Deed Program
(up to $500,000 sales price)
Our 20% down payment rural housing program is used for the rest of Minnesota that does not qualify under our primary location coverage areas, or for borrowers seeking our best financing terms.
Loan Terms 20% Down Payment Program:
- 6.75%, 30 yr. fixed rate, no pre payment penalty
- 20% minimum down payment
- minimum purchase price $175,000 single family home
- Townhouse minimum purchase price $125,000
- 6% added to contract for deed sales price on sell-back
- 5 yr. balloon payment
Qualifications and Getting Started With The Pre- Approval Process
- Minimum total household income of $60,000
- Bad credit OK
- Must be owner occupied
- No land, condos, or commercial property
- No manufactured homes (must have a foundation)
The following is needed to issue a pre-approval:
- 2 years most recent tax returns (bank statements OK for self employed)
- Electronic statement to verify down payment (sale of property OK)
- 2 most recent pay stubs if W2 earner
- Copy of photo I.D such as driver’s license or passport
We need to verify: income, employment, and down payment in order to issue a pre approval. Once the loan application is completed you can go home shopping!
There are Zero Out-of-Pocket Closing Costs During the Purchase
The seller shall pay closing & title fees on our acquisition of property. We do our best to negotiate this without affecting the purchase price, but there is a possibility closing closing costs will get wrapped into the loan amount effecting price marginally.
"When The Banks Turn You Down We're Here to Help"
-Chris Block Owner & CEO
Why Contract For Deed?
It is the #1 alternative home financing solution since credit is not a qualifying factor for loan approval.
Ready to get started? We would love to hear from you! Please fill out the form below completely, and then provide a brief message so that we can expedite the process of handling your inquiry. Talk soon!
No Credit Check
Bad or no credit is OK! This contract for deed financing program is strictly income & cash down payment based.
Fast & Easy Application
Get an immediate response on loan approval without all the hoops a bank makes you jump through.
Get The Home You Want
Don't let that perfect house slip by because the bank turned you down for financing. All of Minnesota qualifies.
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