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Owner Financing Maine Property


Owner Financing with Swift River Properties

Swift River Properties and our affiliates offer owner financing on all the properties we own.

Owner financing is an affordable option for many people in a variety of land buying scenarios. Whether you are in the process of selling your home or you come across the property of your dreams, there are many advantages.

Why purchase property with our financing options? When you finance with Swift River Properties there are no impersonal banks involved – you are working directly with us. There are NO prepayment penalties, application fees, or appraisals. Because our financing is in-house, we can typically close as quickly as any cash transaction!

A full list of properties with owner financing options can be found by clicking HERE.


Frequently Asked Questions:

How much do I need for a down payment?

A minimum down payment of 20% is required for our standard owner financing package. 


How do I qualify for owner financing?

All that is required in the qualification process is to fill out a simple owner financing application that provides us with an overview of your finances and credit history. Most everyone qualifies! Click HERE to take the next step towards your land purchase.


What are the financing terms?

Typically, properties are financed for a 5-year term and can be amortized up to 15 years. Interest rates are fixed and vary depending on the down payment amount. Current rates are 8.9%, 7.9%, and 6.9% with a down payment of 20%, 30%, and 50%, respectively. There are no penalties when the outstanding principal balance is prepaid in full.


My credit isn’t great, can I have a family member cosign for me?

Yes, they would need to fill out the same Owner Financing Application and would need to be present at closing to sign the promissory note and mortgage.


How can I figure out what my monthly payments will be?

To calculate your monthly payments the information you would need is 1) your principal balance, 2) interest rate, 3) the number of payments per year, 4) number of monthly payments and 5) balloon payment (if any). For example, you are going to purchase a property for $25,000 with 20% down (a principal balance of $20,000), at 8.9% fixed rate, for 5 years (60 months with 12 payments per year), with no balloon payment, your monthly payment would be $414.20. We use this Amortization Calculator to calculate monthly payments.