Dold Homes has developed a financing method that has helped many of it’s clients in enjoying home ownership. A land contract to purchase is very similar to a regular mortgage that a home owner would have with a bank. The biggest difference is the seller retains the deed until the land contract has been paid off in full. This is usually done by the owner obtaining a bank loan at a later date, usually after the land contract has been in place for over a year. If all of the payments have been made in a timely matter, this becomes a plus when a lender considers making a home loan. When you are purchasing on a land contract, you may sell the home at any time and after paying us off, you may keep all monies that remain after closing.

While paying on a land contract, you may deduct the interest and real estate taxes on your income tax return. This may save you tax dollars, but you should seek the advice from your tax specialist to make sure. If you are purchasing a new home, all legitimate warranty items will be handled by Dold Homes for a period of one year. As the home owner you will be responsible for all maintenance items just as any home owner would be. You will also be responsible for installing the landscaping and yard. This is required to be done as soon as weather is permitting. Or you may elect to pay Dold Homes for the landscaping and 14 by 14 concrete patio.

This land contract has interest only terms, plus taxes and insurance. While principal reduction is not required, you may make a principle reduction at any time and build up equity.

To help our clients get started, we have started this program with very low interest rates that gradually increase every six months. The goal of course is to get the home in your name.