MiLC Guidelines 

MiLC Guidelines, or Michigan Land Contract Guidelines are guidelines to protecting land contract buyers by having a forumlated system of structuring land contract affordability, to protect the land contract buyer and sellers from facing defaults.

1) Principal & Interest Payments are to be no more than 32% individuals revenues.  Average of last three years of Revenue.

2) Taxes & Insurance should not be greater than 14% unless Principal & Interest payments are lower than the 1/3 limit and together no greater than 46% of Revenue.


3)  Plan of action to refinance should be within an estimated 2-5 years to refinance through a major institution.

4)  Options to extend land contract lengths will be added to all buyer offers submitted by our agents in perpetuity to avoid default of fully performing land contracts with contingencies to be negotiated by Michigan Land Contract Agents.

5)  All offers must be approved by a Michigan Land Contract Analyst or Senior Agent or Broker.

6)  All Land contracts must be registered in the county at closing and must not trigger any due on sale clauses.

All Michigan Land Contract Agents & Affiliates must abide about such guidelines unless structured by a Senior LC Analyst.