Owner Financing : White Bear Lake, MN, 4 Bed, 2 Bath Home

Owner Financing, home in White Bear Lake, MN


1991 4th Street
White Bear Lake, MN 55110
located in the North-East Suburbs.

This home has 4 bedrooms, with 2 bathrooms, a 2 car garage, and 2225 finished square feet.

Owner Financing 4 Bed, 2 Bath, 2 Car Garage - Property ID #1540

Description:
Find your new home through our exclusive “ Road to Ownership” program. Your Road to Homeownership with Minnesota Rent to Own, for more properties visit us at www.MNRentToOwn.com. Your future will be bright and bold in this beautiful home nestled in the quiet and convenient community of White Bear Lake There are no banks to qualify with. You don’t even need perfect credit. This home has just been remodeled and has New Kitchen, New Flooring, New Bathroom MUST SEE THIS ONE. Master BR and walk-in closet. Close to Downtown WBL across street from St. Mary's Church.
Call MN Rent to Own at 651-789-1045. Shown by appointment only.

Note: This property does require a down payment

Owner Financing 4 Bed, 2 Bath, 2 Car Garage - Property ID #1540

This home is being marketed by MNOwnNow.com, your best resource for owner financed homes located in Minnesota.

Owner Financing : Brooklyn Park, MN, 3 Bed, 3 Bath Home

Owner Financing, Contract for Deed, Seller Carry Back Option, Rent to Own Option home in Brooklyn Park, MN


7513 Zane Av N
Brooklyn Park, MN 55443
located in the North-West Suburbs.

This home has 3 bedrooms, with 3 bathrooms, a 2 car garage, and 2247 finished square feet.

Owner Financing 3 Bed, 3 Bath, 2 Car Garage - Property ID #1458

Description:
Instand equity with this turnkey "FORMER MODEL" rental property. Newer construction end unit with Huge Master Suite w/sitting Area & Private Bath. 3 total bedrooms and 3 bathrooms with a roughed in 4 bathroom ready to go. 3 stories in all. 2300 square ft, brick exterior. Custom interior, shows well. Association maintained for the easy maintenance free lifestyle. Rent with the option to buy.

Available immediately call 952-201-7034.

The price for this property is $265,000. Shown by appointment only. Note-Down payment required.



Owner Financing 3 Bed, 3 Bath, 2 Car Garage - Property ID #1458

This home is being marketed by MNOwnNow.com, your best resource for owner financed homes located in Minnesota.

Owner Financing : Farmington, MN, 3 Bed, 2 Bath Home

Owner Financing, Contract for Deed, Seller Carry Back Option, Rent to Own Option home in Farmington, MN


48 Arbor Lane
Farmington, MN 55024
located in the South of the River Suburbs.

This home has 3 bedrooms, with 2 bathrooms, a 2 car garage, and 1788 finished square feet.

Owner Financing 3 Bed, 2 Bath, 2 Car Garage - Property ID #1558

Description:
Brand new construction end unit townhouse conveniently located off Hwy 3 and Hwy 50. This property has a newly finished basement making it a 2 story with 3 big bedrooms, 2 bathrooms. In addition, the association maintains all lawn care, snow removal, and trash.

The entire development is new and the builder is reputable. Available on owner financing.

The price for this home is $ 220,000. Shown by appointment only.

Note: Down payment required.



Owner Financing 3 Bed, 2 Bath, 2 Car Garage - Property ID #1558

This home is being marketed by MNOwnNow.com, your best resource for owner financed homes located in Minnesota.

What is the Interest Rate on a Contract for Deed in Minnesota (MN)

The interest rate on a contract for deed or land contract in Minnesota can vary. A good rule of thumb is it depends on the amount of down payment and risk for the seller.

Most interest rates on contract for deeds or land contracts in MN currently range from a fixed 6.8% - 12% on a standard 30 year amortization.

Sellers that do a fair amount of owner financing tend to like to make it more of a standardized process. These sellers of owner financed homes typically will take the current going 30 year fixed rate and put a spread on it. This spread is a direct relation of risk.

For instance, for simplicity take a $100,000 home in Minnesota. The seller is willing to accept anywhere from 5 - 10% up front as a down payment. The seller might even show you an example stating that if you put down 10% your rate will be:

Current 30 Year Fixed Rate + Spread = Total Interest Rate on Land Contract

So for a 10% down payment we take a current prime 30 year fixed rate of 4.5% and since this is an owner financed home the spread will be 3 points (3%). So the interest rate you would have on this land contract if you put 10% down is a fixed rate of 7.5%.

Next the owner tells you, that you can put only 5% down but the spread will be 4.5%, for a total rate of 9%. So here you are putting 5% down, and paying a total fixed rate of 9%.

Why does a seller do this? First and foremost is the risk, the less down payment the seller receives the more risk the seller has if anything in this deal goes bad. Although your down payment isn't the only factor, there can be such things as your current financial situation, term of the contract, or lump sum payments that you can negotiate in.

Most contract for deeds or land contracts that I see in Minnesota have an interest rate that ranges from 8.2% - 12.0%. Can you get a better deal, sure, but it will take some negotiation and having a good understanding of the ins and outs of owner financing.

Learn the Secrets to Buying Owner Financed Homes