What is Slow Flip?
The Slow Flip program helps families purchase a home using a contract for deed, or CD, instead of financing the home with a mortgage. Also known as an installment contract, the contract for deed can be an ideal method of purchasing a home when buyers need time to adjust their income, credit, debt or other financial components before they can qualify for a mortgage.
Over 3,000 actively listed and soon-to-be-listed homes qualify for the Slow Flip contract for deed program. Of these homes, approximately 1.47% of sellers are willing to accept a contract for deed. The Slow Flip contract for deed program greatly increases the buyer’s options and creates opportunities to purchase a home when the mortgage market is unavailable.
Prospective buyers must meet the primary criteria
- A minimum of 10% down payment
- Reasonable debt-to-income ratio for the target home price
- A plan to pay off the contract for deed within five years
- Have your realtor contact us to see if you pre-qualify
To see whether you prequalify, have your realtor contact us.
Documentation regarding down payment, assets, income, credit and employment are submitted and reviewed to determine qualification for a Slow Flip contract for deed.
Look For A Home!
The most exciting part of the process!
Slow Flip works with the Realtors and their buyers to help them identify homes that are acceptable and affordable for the buyer’s financial situation.
Why a Contract for Deed?
Following the mortgage lending crisis, regulations and processes have proven to be too restrictive for certain financial situations. This includes buyers who are self-employed or are paid on commission and those with credit issues due to bankruptcy, foreclosure, divorce or other unforeseen life events. These regulations leave many families with only the option of renting a home vs. buying a home. The Slow Flip contract for deed program provides families time to qualify for a mortgage, while helping them purchase a home TODAY.