For each $1,000 financed, the monthly investment will be:
At 7% for 4 years: $23.95
At 8% for 5 years: $20.28
At 9% for 6 years: $18.03
(With a $500 down payment or more, the interest rate would be reduced 1%)
So if the amount financed is, for example, $9,000 at 8% for 5 years, the monthly investment would be nine (since $9,000 is financed) times $20.28, or $182.52. If you "double up" in any month, there will be zero interest for that month. Your entire monthly investment will go to principal reduction. Also, if you want your own individualized financing plan, just tell me about it, I will probably say "OK".
It’s true this vacant land for sale by owner (abbreviated "fsbo") is low priced. But don’t think of it as cheap land. It’s usable land to buy now to help secure your future. It’s different than the “land for cheap” offered by others that is “out in the middle of nowhere”. You are dealing with an individual fsbo, not some land sale company. You could do an MLS online search to find an MLS listing. You will find their land prices are higher, the transaction costs are higher, and they won't accept "no money down".
Don't risk bidding at land auctions where you have no idea who you are bidding against, or even if there really is someone else bidding. Here, what you see is what you get. You don't want to "buy cheap land", you want to buy good land cheap! Ask me for the aerial photo link, and for maps, to any of these parcels and see that you CAN own land, usable land, that will hold its value and appreciate over time.
Feel free to write or call any time, I would be glad to hear from you.