Financing
Owner Financing Option
The Owners of Indian Knob development are offering prospective buyers the option of owner financing for their purchase. The terms of the financing package are given below:
Document:Contract Sale Agreement
Down Payment:25% of purchase price
Amount Financed:75% of purchase price
Term:Amortization periods of 5, 10, 15 or 20 years will be offered. If a 10, 15, or 20-year amortization period is chosen, a balloon payment (i.e. the remaining principal amount) will be due at the end of 5 years.
Interest Rate: The rate will equal the legal rate in Arkansas on the date of sale, which is the Federal Discount Rate plus 5.0%. This rate will be fixed for the term of the Contract Sale Agreement.
Traditional Financing Option: Local Banks
Bank of Mountain View
http://www.bankofmtnview.com
Citizens Bank
http://www.thecitizensbank.net/
First National Bank of Izard County
http://www.fnbizardcounty.com
First Security Bank
http://www.firstsecuritybank.org/
First Service Bank
http://www.1stservicebank.com
