Frequently Asked Questions

No. You are more than welcome to obtain bank financing, or purchase with cash. For more information, visit our Owner Financing page.

No, we do not charge PMI.

If you are using owner financing, you will be responsible for your loan application fee, prorated taxes, and prepaid loan interest.

We do not limit the number of people applying for the loan. Application fees vary based on how many apply.

There are several things we look at when qualifying your loan, including but not limited to:

1. Debt to income ratio (DTI): Applicant’s DTI must be 44% or less. This number is calculated by totaling your monthly debt payments (mortgage, credit cards, auto loans, child support, etc. and the new loan payment) divided by the total monthly income (jobs, business, dividends, etc.). Click here for information on how to estimate your DTI.
2. Credit: Credit scores less than 500 are handled on a case-by-case basis. An explanation must be provided. No credit is OK.
3. No state or federal tax liens.
4. No foreclosures.
5. No rental evictions in the last 2 years.
6. Proof of down payment funds.

For agriculturally exempt properties, taxes are anywhere between $15 to $30/month. If you lose your agricultural exemption, or you purchase a non-agriculturally exempt property, your taxes will depend on the county.

The lender retains loan servicing from a licensed and bonded loan servicing company. These companies collect the payments, pay the taxes and insurance premiums when due and provide you with the proper accounting at the end of year. Buyer is responsible for the monthly fee.

Some of our properties have sections that may be in a flood plain. Please refer to the survey or speak to a team member to ask about specific properties.

Yes, but we do impose mild land use restrictions. Please see property details for restrictions specific to each property.

Closing can take anywhere from 30 to 60 days from the day you sign the contract. It depends on the county the property is in and how quickly you provide financial documents to the mortgage loan originator. Most delays are caused by a lack of responsiveness from a buyer (failure to sign contracts and disclosures, or provide information in a timely manner). Work with your sales agent to make sure you have everything you need.

See here for a list of documents you will need to prove your income.

All of our loans are qualified through a residential mortgage loan originator (RMLO) so that they are federally compliant.

No, we do not transfer mineral rights (99.9% of the time we don’t have them ourselves).

Each property has a few land use restrictions (not HOA restrictions). Please see the property details for more information.