Contract For Deed

Buying Property on Installments? Here's a Better Option ...

If you're making payments to the owner for a piece of property pursuant to a land contract, you may be needlessly missing out on the benefits of home ownership.

With a land contract conversion from American General Financial Services, you can save money and enjoy the full rights of ownership now.

How It Works ...

American General Financial Services can purchase the land contract and hand the title over to you - in essence, we convert your land contract to a mortgage and set up an affordable, monthly payment schedule for you. This lets you ...

• Avoid unnecessary expense. Your contract may feature a high interest rate and high payments. Refinancing may lower your monthly expense and save you thousands of dollars over the life of the loan.
• Get immediate possession of the title. There's no need to wait until you have satisfied all payments to the seller to take possession of the deed. You'll get the title as soon as you convert the contract to American General Financial Services.
• Avoid the risk of losing what you've paid so far. Many contracts for deeds feature a final balloon payment. If you are unable to make that payment or qualify for a mortgage before it is due, you may run the risk of default and possible eviction.
• Start building equity. When you take title, you will start building equity with the money you pay, and you may sell your property at any time to take advantage of that equity.
• Enjoy possible tax advantages. As a homeowner, you may qualify for a tax relief through a homestead credit that may further reduce your monthly payout. Consult a tax advisor to find out about the potential tax benefits that you may realize.

How Do I Apply?

Call or drop by your local American General Financial Services office today and ask one of our financial specialists about the benefits available to you with a land contract conversion.*

Apply online or contact the branch nearest you.

*All loans subject to our normal credit policies.