No bank between you and the land.
On select lots we hold the note ourselves. The lender is the company that sold you the lot, the terms are printed on the listing, and the monthly payment is computed in front of you before you ever call. No application fee, no points. Not every lot offers it, and the terms differ from one to the next, so the listing is the source of truth.
The same closing, a different lender.
- 01Pick the lot and the termsOn the listing, choose a down payment and a term from the options offered. The payment and the full disclosure update as you click. That example is the deal, not a teaser.
- 02Tell usUse the form on the listing and say you want financing. We'll confirm the lot is still available and send a purchase agreement with the terms written in.
- 03A short look at youWe're lending our own money, so we ask for the basics: who you are, where you live, how you'll make the payment. We're not running a bank underwriting file. See "what we look for" below.
- 04Close at an attorneyA North Carolina closing attorney prepares the deed, the promissory note and the deed of trust. You pay the down payment and your closing costs; we pay ours. You own the land the day it's recorded.
- 05Pay monthly by ACHPayments draft from your bank account on the same day each month. You get a statement, and a payoff figure any time you ask for one.
- 06Pay it off, early or on timeWhen the last payment clears, we record a satisfaction and the deed of trust is released. Pay it off early and you owe the remaining principal plus any prepayment charge the note states; many of our notes have none, and the listing says which.
- Government ID and a current address.
- A bank account the payment can draft from.
- Enough income or savings that the payment makes sense next to your other obligations. We'll ask; we don't need a full application.
- The down payment at closing, from your own funds.
- No open bankruptcy.
We don't require a minimum credit score, and we don't pull a hard credit inquiry unless we tell you first. We can say no, and if we do we'll tell you why.
- You hold the deed from day one. This is not rent-to-own or a land contract. The land is yours; our note is secured by a deed of trust, the same way a bank mortgage is.
- You can build, clear, fence and use the land while you're paying, subject to the county's rules, not ours. Many buyers set a home before the note is paid.
- Taxes and insurance are yours from closing. We don't escrow; the county bills you directly.
- Selling before it's paid is fine: the note is paid off from your sale proceeds at closing, like any mortgage.
What the note says, in English.
What happens if I'm late?
The note carries a grace period, then a late charge, both stated on the note before you sign. If a payment keeps missing, we call before anything else happens. Our business is selling lots, not taking them back.
And if I stop paying?
Then the deed of trust works like any mortgage: after notice and the cure period the note provides, the lender can foreclose through the North Carolina process. That is a last resort, and in practice it has meant a phone call and a plan long before any filing.
Is the rate fixed?
Yes. The APR on the listing is the rate for the life of the note. It does not adjust, and there is no balloon unless the listing says so.
Can I pay extra, or pay it off early?
Yes, any time. Extra payments go to principal and shorten the note. Whether an early payoff carries a prepayment charge is set per deal and printed on the listing and in the note before you sign — many of ours have none. Ask for a payoff figure and it's good for the date on it.
Who actually holds the note?
The entity named on the listing — the same company that sells you the lot. We service our own notes; nothing is sold to a loan servicer you've never heard of.
Can I finance the house too?
No. This is land financing only. Most buyers put a manufactured or site-built home on the lot with a separate home loan, and the home lender will usually want our note paid off or subordinated first. Tell us your plan early and we'll work with your lender.
Why owner financing instead of a bank?
Banks lend on raw land reluctantly and slowly: big down payments, short terms, and weeks of paperwork for a small loan. We already know the lot, so we can say yes in days on terms a bank wouldn't offer, and you deal with one party from offer to payoff.
Own land you're done paying taxes on? We buy it.
Inherited, landlocked, behind on taxes, timber cut or standing, from a lot to a few hundred acres. A written offer or a straight no within 24 hours; with clear title, closed in 15 days. No agent, no commission.