Financial Programs

 

Delaney Properties, Del-Carmel Investments & Land Trust

Owner Financing Programs

 
Del-Carmel offers a Bridge Loan designed to help people to establish their credit.
Our loans are set up to balloon (mature) in 2 or 3 years allowing you the option to purchase the home at that time or sooner with no pre-payment penalty.
 
If you pay your lease on time and keep the house up, we will continue to lease and EXTEND the option to purchase for you, for any reason, if you are unable to purchase at the time the loan balloons. The only thing that might change is the interest rate.
 
Deposits must be made in the form of a Cashier’s Check, Certified Check or Money Order. Deposits are non-refundable upon acceptance due to the fact that we will be taking the house off the market at that time.
 
Program 1:     min $15,000.00 or 15% down, whichever greater   
Triple net lease with an option to buy
3 year balloon 10 ½%  
2 year balloon 10%
 
Program 2:        min 40% down
3 year balloon 10 ½%
2 year balloon 10 %
 
Program 3:       min 50% down
3 year balloon 9 ½%
2 year balloon 9 %
 
With all programs, if the property is owned by Del-Carmel, we mark up the house 25%. Or if you find a house, depending on if it’s an equitable deal, we mark the house 40%.
 
With Programs 2 or 3, we will deed the property to you and you will be eligible for homestead exemption and you will be responsible for all taxes and insurances.
 
 
  
EXAMPLE OF OUR OWNER FINANCING PROGRAM
Based on Sales Price of $125,000
 
Owner Finance Sales Price     $125,000.00 with a 2 year balloon and 30 year amortization:
Down payment                      $  18,750.00
Balance                                   $106,250.00
P&I payments                          $ 932.42 monthly
Taxes                                       $ 150.00                $1,800.00 Year              
Insurance                                 $  58.33                $ 700.00 Year              
 
TOTAL MONTHLY FEE       $ 1,140.75
 
 
Closing costs can be financed in the loan or paid up front. Below is a breakdown of estimated closing cost to be expected based on a sales price of $125,000.00*.
 
ESTIMATED CLOSING COSTS
 
Settlement Fee                         $ 150.00
Title Search/Tax Search          $ 170.00         
Title Insurance            $ 750.00 (Calculate at $6.00 per thousand)*
Wiring Fee                              $   25.00
Recording Fee                         $ 100.00
State Tax/Doc Stamps             $ 875.00 (Calculate at $7.00 per thousand)*
Appraisal                                $ 300.00
Survey                                     $ 390.00
Flood Cert. if applicable         $   20.00
Processing Fee                        $ 250.00
Attorney Fee                            $ 500.00
Loan Fee .1%                          $1250.00*
Prepaid Insurance                    $ 700.00*
Prepaid Flood Insurance         $ (if applicable)*
 
TOTAL ESTIMATED FEES$________                    
 
 
 
 

 

Land Trust, Inc.                                                      www.rjdcontractors.com

             Office: 985-643-8926                                                Cell: 985-288-7225

LOUISIANA, FLORIDA, AND MISSISSIPPI

 

Advantage of home owner ship                                                                                      date 12-13-2010

We can finance you, if you have cash to put down or if you have a cash settlement that you can pledge with a structured settlement or paid property.

Cash or a structure settlement will put you in a home. No matter if you have:

(a)    Bad credit

(a)    Slow credit

(b)   No credit

The benefits of our home ownership program:

        1.    The advantages of home owner ship through our lease option

2.     If you pay on time we will report you to the credit bureau to help you to establish your credit

3.       We will finance you another house if you pay on time. We will even upgrade you

4.       Property is at an all time low there is only one way to go.

Buying a home with a convention mortgage and financing with a bank you are required to have spotless credit. With a credit score higher than 720 and you are buying a primmer resident you need 20% to 25% down. And you may get a 4.5 to 5.5% loan. You will have to produce 2 years of tax returns and financials. You need to prepay taxes, insurances, appraisals, survey, and bank fees. These fees are around an additional $6,000.00.

Buying a home from us you do not need to come out of pocket for appraisals, survey, bank fees.            If you are in a divorce or a bankruptcy or if you have no credit or in a lawsuit a lease with an option allows you to set a price and or get a head start on getting yourself on the right track. In this day and age credit is a must to home owner ship. If we don’t have a house for you we can find you one.

We also have a program for people who found there perfect house

(a)    1st it needs to be an equitable buy

(b)   They must have a minimum of 15% down

(c)    We mark the house up 25% to 30% depending on the house. This is how we make our money when you pay us off. We borrow our money so we don’t make it on the interest rate.

(d)   Our current interest rates or calculated by down payment

                              Down%         interest%

50%

7.50%

25%

8.50%

20%

9%

15%

9.50%

10%

10%

5%

11.00%

 

finance-Sale price

note 30 year mortgage, 3 year balloon

 

 

 

120,000

 

 

 

 

 

 

 

 

 

Percentage Down

Down Payment

Interest Rate

Balance not Incl. Interest

monthly note

 

 

 

 

 

50%

$60,000.00

7.50%

$60,000.00

419.53

25%

$30,000.00

8.50%

$90,000.00

692.02

20%

$24,000.00

9%

$96,000.00

772.44

15%

$18,000.00

9.50%

$102,000.00

857.67

10%

$12,000.00

10%

$108,000.00

947.78

5%

$6,000.00

11.00%

$114,000.00

1,085.67

 

Real estate agents and Mortgage Brokers

Advantage to real estate agents and mortgage brokers with the economy and the real estate market so bad, we at Land Trust Inc. can improve sales and put money in your pocket. We can finance people with bad credit, bankruptcy, as long as they can put down cash or something like property, we can help.

 

1.       If an agent has a client that has cash to put down 15% or more. We can help

2.       If a mortgage broker who has a client that has cash or property or structure settlement. We can help.

3.       We pay mortgage brokers and real estate agents 1.5% of the Sales Price

4.       We pay a .5% of Sale for referral fees so if you know other agents. That have clients you will make .5% of down payment.

5.       Example       If they buying a Land Trust, Inc. house for 100,000. and they have 20,000

-                    The agent makes a commission on the house in the amount of 1.5%

6.       Example       If the mortgage broker has a client he can make up 1.5% of the sale and  the agent                                          -                    will make .5% off the purchase and .5% Sale as a referral

7.       Example       If the agent has a client and a house and the client has 15% or more we will  

-                   purchase the house the agent will make their regular commission plus 1.5% of the Sales price

8.       Example       If an agent knows a mortgage broker and he brings us a deal the agent will make

-                  .5% of the Sales price and the mortgage broker will make 1.5% Sales price

 

This will open up another avenue of financing in these tuff times.

Land Trust Inc. is always looking to buy homes. We purchase homes in the Florida, Mississippi and Louisiana.