Are there many land contracts available in the Kent County, MI area these days, and how much is the normal down payment for these and interest rate?

Asked by Escape777, 49319 Thu Feb 17, 2011

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Brek Schutten, Agent, Grand Rapids, MI
Tue Mar 1, 2011
I am finding that a lot of people are willing to consider land contracts now. The problem with them is that they usually require a pretty large down payment, so the situation has to fit perfectly for the buyer. The ideal buyer for a land contract is somebody who has money saved up, a steady income, and one distinguishing but explainable flaw in their credit history (bankruptcy, foreclosure, short-sale). Because the interest rates of land contracts are generally higher than a typical mortgage, it is usually better to get an FHA or conventional loan from a bank if you can.
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Michelle Gor…, Agent, Ada, MI
Fri Feb 18, 2011
Good morning........Land Contracts are becoming more popular these days.

We have started an open FB Group - Called For Rent or looking to rent/Land Contracts ........Kent County Michigan.

Anyone can join, and ask questions - and there area few Realtors on there who can answer your questions. I welcome you to join.
Web Reference:  http://www.gordongroupgr.com
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