Owner Financing

With our financing there are no prepayment penalties for early payouts, which allows the buyer to refinance if desired.

We offer two different types of loans:

  1. a fixed rate 10 year loan
  2. a fixed rate 5 year loan with a balloon payment

Because of there is no prepayment penalty, i personally believe the 10 year loan gives the most safety for the buyer,  yet the 5 year balloon is better for me.  Decide for yourself.

In both cases I look for 20% down.  Special exceptions might be made if this is a problem.

The 5 year fixed rate of 4% with a balloon payment after 5 years, the rates per thousand are:  $200 per thousand deposit, $4.85 per month per thousand for payments, Balloon of $660.11 per thousand payment due at the end of 5 years.

The 10 year fixed rate the interest rate is 8%.  To calculate here are the rates per thousand:  $200 per thousand deposit, $9.71 per month per thousand for payments, zero balance at the end of  10 years

Call me directly on my cell (207 653-9955) or email me (tom@landmaine.com), to talk more about this.

Specific examples:

                                            5 year Balloon payment
Price of lot         $39,000.00        $45,000.00     $55,000.00      $65,000.00
down payment   $  7,800.00        $  9,000.00     $11,000.00      $13,000.00
rate per month   $     189.07        $     218.15     $    266.63       $     315.11
5 year balloon    $25,749.00        $29,710.91    $36,313.19       $42915.49

                                         10 year Fixed Rate Payment
Price of lot         $39,000.00        $45,000.00     $55,000.00      $65,000.00
down payment   $  7,800.00        $  9,000.00     $11,000.00      $13,000.00
rate per month   $     378.54        $     436.78     $    533.84       $    630.90 
10 year balance      $0.00                 $0.00               $0.00                $0.00

Call me directly on my cell (207 653-9955)

Thank you,

Tom Chadbourne,
        Owner

Click here to see a summary of the Maine land I own and offer for sale

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