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Owner Financing...........

What is the going interest rates on an owner carry loan in Texas? I'm thinking maybe 6-10 %..........
  • November 04 2013 - Amarillo
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Answers (4)

I have helped in three owner financed sales of land this year.  Land is hard to finance through a bank if it is under 70 or 80k.  The sales have all been 20-30 % down and 2 % above prime.  It is best to go through a good escrow company that handles all the paperwork. We used a title company that handles the yearly taxes, the reconveyance paperwork , and the accounting.  There are standard forms through your real estate agent to cover owner carried financing.
  • November 08 2013
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Thanks for the info.....We sold our home in CA and moving to Texas. We have 45K to put down on a 110K home on 3 acres. Just looking to see what kind of rate to put in on our offer. Thanks again,,,,
  • November 04 2013
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The last example I heard of owner financing required a 20% down payment and interest rate of 12%. 

  • November 04 2013
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I don't think there is a "set" rate.  It will probably depend greatly on the purchase price, the down-payment and your financials.  I have seen many owner-carries from 5-10% in my career.  In my career I have noticed that land usually goes from 8-10% and residential 5-7%.  

Best wishes from So-Cal and good luck
  • November 04 2013
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