Financing
Guaranteed Financing
Everyone qualifies, we make it easy to buy land today
All of our lots are For Sale with an option of owner financing
Pay in FULL or use SELLER FINANCING
Interest rate and term is based on the amount of the down payment
No Bank Qualifying. We Don't Even Check Your Credit!
We carry the financing .... There is no credit check, income requirements, no red tape, no bank loan.
Just send the monthly payments ... When you pay off the land, we issue a Grant Deed ... It couldn't be simpler!
All properties owned by Morgan Land Trust or any of its affiliated entities will be sold on a CONTRACT FOR DEED
Unless otherwise stated, once the loan is paid off, the Seller will convey ownership to properties using a "Grant Deed"
We make it easy to buy land today
Never a pre-payment penalty
Interest rate and term is based on the amount of the down payment
10% down = 10% interest
20% down = 8% interest
30% down = 7% interest
40% down = 6% interest
50% down = 5% interest
The Buying Processes, When Financed
1) Pick the lot you want to buy
2) We email you a purchase agreement and terms of sale
3) You sign the purchase agreement and terms of sale and return along with a $200 document fee
4) We email you
a. Contract for Deed / Land Contract
b. Parcel maps
c. Terms of Financing
d. Amortization Schedule
e. Statement of Information
f. Vesting request
5) You sign and return the Contract for Deed / Land Contract
6) You wire the down payment
7) After receipt of signed Contract for Deed / Land Contract we hold the Grant Deed in trust until the contract is paid in full
8) The following month you make your first monthly payment on the 15th
9) All monthly payments are due on the 15th of each month
10) No prepayment penalty
11) Pay off contract at any time
12) Pay down contract at any time (minimum $500)
11) Once the contract is paid off (paid in full) we have the Grant Deed recorded in your name at San Bernardino County Recorders Office
Contract for Deed
A contract for deed (sometimes known as a “land contract,” "agreement for deed," "land installment contract" or an “installment sale agreement”) is a contract between a seller and buyer of real property in which the seller provides financing to buyer to purchase the property for an agreed-upon purchase price and the buyer repays the loan in installments. The sale price is typically paid in periodic installments. When the full purchase price has been paid including any interest, the seller is obligated to convey legal title to the property to the buyer.