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
Maria Cipoll…, Agent, Coral Springs, FL
Sun Oct 21, 2012
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
Anne Stein, Agent, Dayton, OH
Mon Apr 30, 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
Bob and Sue…, Agent, Dayton, OH
Fri Apr 27, 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. http://www.YourRealtorForLife.net
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