Financing in 45405>Question Details

Buz Page, Home Seller in 45405

what is the current market interest rate for a land contract?

Asked by Buz Page, 45405 Fri Apr 27, 2012

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Maria Cipollone’s answer
Generally speaking, the mortgage rate for a land contract is 1/2 point higher than the regular rate. Shop around for a mortgage broker, they have access to many banks, private lenders and many different programs.

Best of Luck,

Maria Cipollone

Century 21
1 vote Thank Flag Link Sun Oct 21, 2012
It can be higher than the going bank rate. There is a usuary amount allowed. I must check to see what that is at this time. Will check and get back.
0 votes Thank Flag Link Mon Apr 30, 2012
Mkt rate for an LC depends on the buyers qualifications and the sellers motivatin for selling. Basically LC is on a case by case basis. As a side note LC's can be a dangerous arrangement for the buyer and for the seller. Suggest you discuss the pros's and con's with a Realtor experienced with this type of transaction. If you wish to delve deeper call us 937-435-2267 x163 for a one hour free consultaiton.
0 votes Thank Flag Link Fri Apr 27, 2012
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