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How it Works?
People can be denied traditional financing options for a variety of reasons,
yet they have sufficient income & a down payment that suggests home ownership is possible.
Have you been denied financing because of this?:
Bad Credit
Recent Bankruptcy
Divorce
Self Employed
Own Business & High Write-Offs
High Debt Balances
Student Loans
Past Due Child Support
Lack/Limited Work History
Brian Zimpel
Contract For Deed Agent
If you are having trouble securing financing options, or maybe something recently happened that affected a previous pre-approval, but have funds set aside for a down payment (10%-20%, $30,000 minimum) and sufficient income for a house payment, our Contract for Deed services will bridge that gap and work for you!
Select just about any home currently for sale on the market from one of our many approved cities in the 7 Minnesota Metro county area. (Certain exceptions outside approved counties/case by case.) With a variety of price points, and several luxurious high end communities to choose from, you will be able select just about any home that is for sale and have the opportunity to purchase via Contract For Deed from our partnered local lender/investor.
Based on income, savings, investment accounts, bank statements etc. when you apply you will be provided a purchase budget, very similar to if you were being pre-approved for traditional financing. From that amount, you can shop for homes from one of the many approved communities.
The partnered lender/investor will attempt to purchase the home you select, based on the terms you provide & agree to. After a successful DOUBLE CLOSING SAME DAY, you will become a homeowner via contract for deed, until you are ready to refinance and purchase and take full ownership.
The investor buys a home, typically charges 1-2% extra over current interest rates, and charges a premium of 1-3% annually as a service fee. The premium gets added upfront to the purchase price when assuming the contract for deed. Payoff discounts will be earned if paid off before the contract’s end date. (See example chart below.)
You will get a 5-year contract for the deed, with the option to renew for up to 10 years total. (5 years max if ownership is taken in the business entity name.) Amortized 5 years @ 30 years, 5 more years amortized at remaining balance if you need more time. For a complete breakdown of my Contract For Deed Minnesota Homes service from start to finish request private consultation today. Contact Us Today!