A Bond for Deed, also called a land contract, is a real estate transaction where the buyer purchases a property from the seller through installment payments. Unlike a mortgage, the seller acts as the lender, receiving payments directly. Legal ownership remains with the seller until the buyer has paid the full purchase price. Once the final payment is made, the seller transfers the deed to the buyer, making them the official property owner.

Our Bond for Deed financing program aims to streamline your path to homeownership. We offer a quick and efficient timeline that can be completed in as little as 5 days. Here's a breakdown of the key stages:

Pre-Qualification: Begin by getting pre-qualified, enabling us to match you with suitable properties. This step is free, non-binding, and has no impact on your credit score. Simply provide basic details about your desired property, financial status, and property preferences, and we'll notify you when we have a property that might be a good fit.

Property Tour: Once you’re pre-qualified, we'll arrange a property tour for you to check out the house and neighborhood to see if it’s a good match. During the tour, we'll address any questions you have about the property or the Bond for Deed program.

Secure Your Home: Should you decide to move forward with a property, the next step involves verifying your income, submitting a down payment, signing the agreement, and transferring the property utilities into your name.

Bad credit or even no credit will NOT disqualify you from our program. Our primary concern is that your monthly income is 3x your mortgage payment.

Bond for Deed and Rent to Own have some similarities, but they are quite different for both sellers and buyers. With Bond for Deed, your entire monthly payment goes towards the principle and interest, getting you closer to full ownership with each payment made.

With Rent to Own, the buyer and seller simply agree on a purchase price, but the “buyer” is really just renting the property for a pre-determined length of time, until they can qualify for a traditional mortgage with the bank. The monthly rent payments are just that - RENT. Anything credited towards the purchase price must be over and above the monthly rent payment.

Bond for Deed is a much better option for all parties involved.

Our mission is to make homeownership accessible for everyone. This is why we keep our down payment requirement as low as possible. Typically set at $3500, this nonrefundable deposit is credited toward the purchase price, reserves the property for the buyer, and is payable upon signing the agreement. By maintaining a low down payment, we help buyers overcome one of the most significant obstacles to homeownership.

We escrow your taxes and insurance, which means a portion of your monthly payment is set aside by our mortgage servicer to cover the costs of property taxes and hazard insurance. This ensures all parties that these bills are paid on time, every time.

Please note: our insurance ONLY covers the building from catastrophic events and DOES NOT cover your personal property. We recommend you obtain your own policy to cover your personal items.

Please also note that all insurance premiums are the responsibility of the buyer.

Our Bond for Deed program provides buyers with properties that have a clear title and are free from liens. This ensures a worry-free purchase experience. While some properties may need a little TLC, buyers have the liberty to personalize their homes according to their preferences and timeline.

We cover all closing costs, so there are no additional expenses beyond the down payment for buyers to worry about.

Before signing the agreement, buyers are encouraged to conduct any property inspections and due diligence they desire at their own expense.

Responsibility for maintenance falls on the buyer's shoulders, akin to a standard home sale. This includes all preventive maintenance, repairs, capital expenditures, and updates to the home.

In contrast to rent-to-own agreements, where the buyer functions as a tenant and the seller retains landlord duties, purchasing a property via a Bond for Deed means you bear both the advantages and obligations of homeownership. We simply act as the lender.

We are required by the State of Louisina to use a 3rd party mortgage servicing company to collect your payments. We work with Escrow Services, Inc., a Louisiana based mortgage servicer. They will reach out to you prior to closing to set up your account and get your automatic monthly payments ready to go.

Making timely monthly payments is crucial to avoiding late fees and the possibility of defaulting on your loan. Payments are expected by the first of each month. Any payments not received by the 5th will receive a 10% late fee. Failure to receive payment by the 12th will result in the initiation of the eviction process.

Staying current with payments is essential for a seamless and worry-free experience.

Yes, you can sell the home, and any and all equity gained above your purchase price is yours. If you want to move out before the end of the term, you have 2 options:

1. Pay off the principle balance on the loan by selling or refinancing the property.

2. Alternatively, we offer a $1,000 move-out credit for buyers who prefer not to wait for refinancing or selling the property in order to relocate. To qualify for the move-out credit, you must have resided in the property for at least 12 months, remain current on all payments, and provide us with a 30-day notice.