Frequently Asked Questions
Our Team is here to help
Liberation Ranches makes it easy to find and purchase your own Texas land. Our robust online FAQ answers your biggest questions about financing, land use, titles, and how the entire process works.
No. You are more than welcome to obtain bank financing, or purchase with cash. For more information, visit our Owner Financing page.
No. You can pay off your loan at any time without penalties.
No, we do not charge PMI.
All of our loans are set up as traditional mortgages, amortized over the lifetime of the loan. We do not offer balloon mortgages, and do not charge PMI. For more information, visit our Owner Financing page.
If you are using owner financing, you will be responsible for your loan application fee, prorated taxes, and prepaid loan interest.
Yes. We pay for the owner’s title policy. If you owner finance, we also pay for the lender’s title policy.
We do not limit the number of people applying for the loan. Application fees vary based on how many apply.
The 2022 application fee is $1,100 for two people. Additional fees are required if there are more than two (2) applicants. Please note that the application fee is non-refundable, even if you don’t qualify for the loan.
There are several things we look at when qualifying your loan, including but not limited to:
The loan servicer will collect and escrow taxes each month with your payment. They will pay taxes on your behalf at the end of the year. If there is a tax shortage, they will contact you to provide the additional funds. The loan servicer will re-evaluate your tax liability every year. If there is a shortage, they will adjust your monthly escrow payments accordingly.
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.
You will close at a licensed title company.
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.
As of 2022, the monthly fee is $20.
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.
No, we do not have HOA restrictions, but we do impose mild land use restrictions. Please see property details for restrictions specific to each property.
Yes, but we do impose mild land use restrictions. Please see property details for restrictions specific to each property.
We offer traditional amortized loans at 10.9% interest for 20 years. There is no balloon, no PMI, and no prepayment penalties. Down payments are based on the property.
Yes! We can add multiple people to the loan and purchase. Speak with your sales agent about how.
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.
All of our loans are qualified through a residential mortgage loan originator (RMLO) so that they are federally compliant.
See here for a list of documents you will need to prove your income.
Yes. If you buy through a business entity, you will need to personally guarantee the loan, so you will still need to personally qualify through RMLO. The contract and loan will be made to the business entity.
Improvements depend on the property. Please refer to the property details section to see what is offered on each property.
No, we do not transfer mineral rights (99.9% of the time we don’t have them ourselves).
Each county has its own requirements to qualify for agricultural exemptions. Please visit our property search map for specifics.
Each property has a few land use restrictions (not HOA restrictions). Please see the property details for more information.
Of course! We do offer commissions to selling agents. Realtors® must be present for all showings and negotiate on the buyer’s behalf.
Each land buying experience is tailored to your specific needs, but at a high level, here is what you can expect.
