Contact Us to Learn More About Homeowner Financing in Mandeville, LA
You want the American dream for yourself – the dream of homeownership. However, for many, going the conventional route is not a possibility. This is because many don’t have enough money in savings to borrow money with a bank loan. This is why many choose to work with Pelican Escrow Services, LLC for homeowner financing in Mandeville, LA.
Let us offer you two options and see which one works better for you – owner financing or a bond-for-deed contract.
When the Owner Provides the Financing
With this homeownership program, the owner serves as the bank for the buyer. The seller provides credit to the buyer for purchase price, minus the down payment. Over time, the buyer makes regular payments to purchase the house. Instead of a bank mortgage, the buyer signs a promissory note outlining the financial agreement for the payment plan, interest rate, and default terms.
When the Bond Serves as the Deed
In this financial arrangement, the owner agrees to accept payments over time. Instead of getting the asking price right now, the owner approves a contract with payments over time. Until the buyer pays off the house, it belongs to the owner. However, when the amount is paid in full, the ownership transfers to the buyer.
With either option, it’s wise to seek help from professionals, such as our company, to guide you and protect your interests.
804 Mariners Plaza Drive
Mandeville, LA 70448
PO Box 181 Mandeville, LA 70470
Greater New Orleans area
Greater Baton Rouge
Entire state of Louisiana