KY Whitetail Land Co Financing

Owner / Seller financing is offered as a way to purchase your dream property. This is accomplished through a contract for deed. For most properties it can be paid off or refinanced at any time without penalty. Minimum down payment is 5%.

*If only paying 5% down, all new clients will be required to temporarily "lease" the property and make payments on time for at least 6 months before a contract for deed is executed. You may skip this initial lease period if paying 10% or more down.

With the initial lease option, if all payments are made on time for 6 months, the 5% security deposit will be converted to your down payment and the loan period will retroactively begin when the "lease" began. There is no money difference, and your payments will remain the same. If you do not make all payments on time, the 5% deposit will be returned after any fees, damages or expenses owed are deducted. This helps keep costs lower for all of our valued customers.

*Lease to Contract for Deed conversions are typically performed in February and August of each year for qualifying clients.

Financing is offered at a fixed 12% interest rate on a 20 year promissory note. For some larger properties, loan terms can be up to 30 years.

If paying over 30% down or purchasing large or multiple tracts, the interest rate may be adjusted slightly at our discretion, but we are not a bank. A bank or cash is always a good option if possible.

Property taxes are added to and collected through the monthly payments and will be paid to the county by KY Whitetail Land Co.

A $60,000 property financed for 20 years requires a $3,000 down payment, and monthly payments of approximately $635/month including taxes.

A 20-year loan generally costs $115 per month for each $10,000 financed (m/l), PLUS estimated property taxes. Payments will change with tax increases which we can't control. If you build a home, the tax amount may greatly increase. For an approximate payment amount on the land, reduce the total price by the down payment amount, divide that loan amount by 10,000, and multiply by $115. ($50,000 = 5 x $115 = $575/mo m/l)

You can reserve a property for up to 5 weeks with a $1,000 good faith deposit, and take up to 5 weeks to close.

There is no internal closing cost. However, if you have us prepare paperwork and then refuse to close or never make the first payment, a $200 fee shall be retained as an expenses fee.

*We reserve the right to deny service to anyone for any reason. These are private loans from the owners. You are more than welcome to use a conventional bank loan or pay cash. We no longer accept any offers from FHA, USDA, VA or similar programs due to the harm we've seen them cause customers. You may want to ask about lenders that specialize in land.

**By using owner financing, you agree that "upon the event of default", you will re-sell the property to KY Whitetail Land Co upon their request via a deed in-lieu of foreclosure. Any equity in the property will be returned to Buyer as defined in the contract.