Many people, especially the last few years have bought a home on a Contract-for-Deed, sometimes also known as a land contract. Generally speaking, most of the contracts are balloon loans with higher interest rates, and have payments based over 30-years, but the Contract For Deed is almost always a balloon loan due in full in just 3-years to 5-years. Therefore many people are currently in need of a standard traditional mortgage loan refinance to pay off their contract-for-deed.

We do Contract for Deed Refinances in MN WI SD ND IA CO TX, and FL only.

Many people believe they need to purchase the home at the end of the contract, but technically, you sort of already own the home. Therefore your just need to do a standard refinance mortgage loan.

If it was a purchase, you would need a down payment. But because we treat it as a refinance, no down payment is needed.

Most people are able to refinance their Contract-For-Deed with little to no money out of pocket, except for paying the cost of an appraisal up-front. Some money may be needed in some rare cases if you owe too much compared to the homes current value.

We are experts in Contract-for-Deed refinance loans

Of course like any other loan, there are closing costs - but you are able to roll those closing costs into the new loan!

Contract-for-deed refinancing is pretty similar to any other mortgage refinance. We are going to take a loan application, review your income, credit score, and do a property appraisal. Assuming everything looks good, and you qualify for the new loan, paying off a contract-for-deed is easy.

Contract-for-Deed refinance only allows you to pay off the existing contract balance, plus any closing costs. No additional cash out allowed.

Because of the contract-for-deed, your lender is going to need just a few additional items above the typical loan of W2's, pay stubs, bank statements, and tax returns:

• Copy of the Contract-for-Deed
• Proof of on time payments on the contract for the last 12 payments (1-year) - This needs to independent third party proof like cancelled checks, or bank statements showing a payment
• Name, phone number, and contact information for your contract holder
• Payoff demand from Contract Holder
• Contract must have been in place at least 12 months

Fire your contract for deed holder - refinance today. It is easy, and we can help!