If you’re thinking about buying land, you’re probably weighing so many options right now – what to buy, where, and how to get financing. You probably know that we can help with the what and the where. But did you know we can also help with the how? Keep reading to find out more.
Buying a large piece of land can be expensive and might be out-of-reach for most people. But don’t let that hold you back from building your dream escape. As a small, family-run business we can offer owner financing with flexible terms to meet your needs.
Top 3 Advantages of Using Owner Financing When Buying Land in Arizona
#1. You can buy land even if the bank says no
Before a bank gives you a mortgage, they’ll check your credit. If your credit is pristine, you’re good to move ahead with your plans. But if your credit is not so great, you probably won’t get the funds you need to buy the land you want. With owner financing, your credit may not even come into play. With a full down payment, we’re happy to set up flexible terms that won’t impact your credit statement.
#2. There’s no credit impact
You don’t need to have bad credit to get owner financing. There are many times when people want to buy a house but just don’t want to have the negative impact to their credit scores. Perhaps they need to make another purchase, or maybe they are investors who want to buy several houses without impacting their credit; whatever the case may be, owner financing allows you to get the property you want while still keeping “room” in your credit for anything else.
#3. Flexible terms
When banks create a mortgage loan, they are forced by their head office to follow fairly strict terms. But when you work with a seller then you can create flexible terms so that are suitable to both of you. It’s important to us that all of our clients are happy so we’ll work with you to set up a payment schedule you can afford.