You don't apply for a land contract. You have to find a seller who is willing to sell, using a land contract sale. Most seller do not use this type of financing, typically due to the fact they need the money to buy another home, or cannot qualify for 2 or more mortgage payments. The seller becomes the bank in a land contract situation. The buyer puts up a down payment, (amount is up to the seller and can be negotiated) this is appilied towards the price of the home. A mortgage cacluator is used to fiqure out the amount of the mortgage. The taxes and insurance are paid by either the seller or the buyer. An escrow account can be set up for this, just like the banks do. Payments are made directly to the seller on a monthly basis. (principal, interest, taxes and insurance) If the buyer does not pay the payments, the money is considered rent, and the buyer will forfiet all monies that they have paid. Of corse, everything is negotiable in real estate, and it would be wise to have an attorney draw up the contract to protect all parties. Hope this helps!! Call me if I can be of assistance to you!