A contract for deed lets you buy a home with payments to the seller instead of a bank. Learn how a contract for deed works and browse homes for sale on these terms.
A contract for deed, also called a land contract or installment sale, is an agreement to buy a home by paying the seller over time. You move in and make payments. The deed is transferred to you under the terms in the contract.
There is no bank approval, so it is open to buyers with no credit, low credit, or income that is hard to show on paper. The down payment is usually much smaller than a bank would ask for.
Our contract for deed program asks for as little as $1,000 to $3,000 down on many homes, with fixed monthly payments. We check that the home is free of liens and tax problems before you buy.
Every contract for deed spells out the price, the payment, who pays taxes and insurance, and what happens if a payment is late. A housing specialist will walk you through each part, and you are welcome to have anyone you trust review it.
Every listing shows the price, the down payment and the monthly payment up front.
View Available HomesYes. Land contract, contract for deed, bond for deed and installment land contract are names for the same kind of deal, depending on the state.
Your contract says who pays taxes and insurance. Ask your housing specialist to point to it before you sign.