SELLER FINANCING TERMS (DOWNLOAD) 0% interest and no payments for the first year!
• 25% Down Payment
Verification of down payment funds is required with the sales contract for the lot purchase.
• Three year Note
• After first year: 6% annual interest, with interest-only monthly payments
• No loan origination or document fees
• No Pre-Payment Penalty
• First Deed of Trust, No Subordination
Subject to change without notice
SELLER FINANCING EXAMPLE
| Sales Price: | $239,900 | 25% Down Payment
(There are no loan origination fees) | $59,975 |
Loan Balance:
(All due in 2 years) | $179,925 |
Monthly interest-only payment calculation:
6 % Annual interest x $179,925 = $10,795.50 annual interest
Interest-only monthly payments: $10,795.50/12 = $899.63 per month
(due monthly during years 2 and 3 of the note)
Interest savings:
0% interest and no payments for one year = $899.63 x 12 = $10,795.50
Total savings of $10,795.50
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