Owner Financing
Owner financing is an affordable option for many people in a variety of land buying scenarios.
Owner Financing Terms
Own Your Own Piece of Maine
Most of our properties offer owner financing to qualified buyers who are US citizens and US residents. Approval is based on financial capabilities and history, property price, responsibility, character, etc. Down payments start as low as 10%. Interest rates are subject to change therefore they are not listed on this site and will be set at the time a purchase and sale is agreed upon. We are not a bank. We have the flexibility to work with you to make a payment plan that fits within your financial needs.
Owner Financing FAQs
Frequently Asked Questions
What’s the minimum down payment?
We require a minimum down payment of 10% of the sale price if it is raw land. If the property has improvements such as structures, a larger down payment will be required.
How do I qualify for owner financing?
There is a qualification process for our owner financing. The first step is to fill out our owner finance application. The application asks for information such as contact information, source of income, references, financial obligations, your budget, etc. Approval is based on financial capabilities and history, property price, responsibility, character, etc.
What are the owner financing terms?
With our owner financing we are looking for at least 10% down, and then from there we can set you up with monthly payments to pay off the remaining balance. There are no pre-payment penalties. We would have you fill out our owner financing application, and then from there if approved we could set the definite terms of the agreement.
Can I have a co-applicant for income consideration?
Yes, they would need to fill out the same owner financing application.
Owner Financing Application
Apply To See If You Qualify
Thank you for your interest in our owner financing program. Please complete this application in its entirety and provide accurate, truthful, and complete information. Any missing, incomplete, or false information may result in delays, denial of your application, or disqualification from further consideration. Submission of this application does not create an obligation to extend financing or enter into a purchase agreement. The Owner reserves the sole and absolute right to approve or deny any application for any lawful reason, request additional documentation or verification, or withdraw a property from consideration at any time. Approval is based on the overall strength of the application rather than any single factor.
Each application is evaluated based on the provided information, supporting documents, and other relevant factors regarding the applicant’s ability and willingness to meet owner financing obligations. The Owner evaluates all applications in accordance with federal, state, and local laws and does not discriminate on the basis of any legally protected characteristic. Factors considered include, but are not limited to:
- Income and Employment: Current and past income stability.
- Affordability: Ability to comfortably afford the down payment and monthly payment as well as other property-related expenses.
- Financial Responsibility: Review of the applicant’s financial information and payment reliability based on the application, supporting documentation, and verification process.
- Debt Levels: Existing financial obligations and total debt.
- Housing History: Past rental and/or mortgage payment history, including evidence of proper property maintenance.
- Application Credibility: Overall financial responsibility, stability, and the accuracy of the information provided.
- Verification: Confirmation of employment, residency, references, and other submitted information, including review of reference feedback and overall applicant credibility.
- Other Relevant Criteria: Any additional lawful factors the Owner deems necessary to evaluate the application.
We appreciate your interest, time, and cooperation, and will carefully review your application once all required information has been received.