What Are the Benefits of Owner Financing?CenturyTree
What do you do when you need money for a large purchase such as a car or home? In most cases, you apply for a loan. Maybe you fill out an application at your local bank or credit union. They will need to check your credit score. Having too many inquiries into your credit history can have a negative effect on your overall score. Once your application is submitted, you have to wait for the bank to decide whether or not to loan the money. If approved, the bank will require a stack of paperwork and you will be required to make a hefty down payment to secure the property. If the application is not approved, you are back to square one. You can try another banking institution or just give up altogether.
If you don’t want to go through the hassle of dealing with a bank, there is another way for you to buy that piece of land you have always wanted! At Century Tree, we offer owner financing to anyone who wants to invest in property! We do not check credit scores, so your credit will not be negatively affected as it would be with a bank. Everyone is approved! We also do not report to the credit bureaus, so your score will not be affected by a higher debt to income ratio. And, if you do have an emergency and make a late payment, there are no negative effects to your credit.
Financing land with Century Tree is very affordable and we have properties to fit every budget. Our down payment on a standard property is $500.00. That’s it. No doc fee. Nothing.
You may be wondering about the interest rate of the owner financing we offer. Everyone gets the same interest rate of 10%. If that seems high, consider that many credit card interest rates are higher than that and credit card companies do not offer the other benefits that Century Tree financing does. Personal loans also carry high interest rates and banks rarely approve personal loans for the purchase of vacant land.
If you want to pay your land off early, there are no prepayment penalties! You can also make extra principal reduction payments at any time to pay down the loan faster. We understand sometimes you may need an extra few days to make your payment, so we offer a 15 day grace period before any late fee would be charged.
There is no red tape and no waiting for approval. After your purchase, there is only ONE document for you to sign! That is just unheard of with the traditional loan process!
Our goal is to help everyone who wants to buy land to be able to do so. With Century Tree’s easy financing, you too can invest in land with confidence and can be proud to tell your friends and family that you are securing your future as a land owner.