When it comes to managing your mortgage, most homeowners are familiar with refinancing as a way to lower monthly payments or take advantage of better interest rates.

I have ZERO intention of making any payments on these contracts, nor do I want the equipment.

I currently do not have enough funds to fund a down payment and am trying to find the most efficient way to save.

No, only after missing significant payments then you could suffer a forced sale.     

Zero missed payments.

There are some great suggestions here on down payment, interest rate, servicing, and underwriting the borrower.  

Here are some general guidelines: Lien Position1st Position LienEquityMinimum Down Payment of 20-25% (a 30% equity to sale price is preferred)Down Payment made in certified funds and not borrowedMaximum Funding of 70% ITV (Investment to Value)SeasoningMinimum of two monthly payments already made12 months or more preferredPayer CreditCredit Score of 650 or higherNo major derogatory trade lines (No 90-180+ days delinquent, foreclosure, repossession, bankruptcy, etc.)No decline in credit since purchase of businessTermsPrefer 60 months or lessMaximum of 72 monthsNo Balloon Payment preferredCash FlowBusiness has positive cash flow1.25 debt service coverage ratio preferred.DocumentationPersonal guarantee from a creditworthy individualStandard documents including Note, Security Agreement, and UCC-1 filing.Tax Returns on the business that substantiate profit and loss statements.OtherPayment history current and verifiablePayer Interview indicating buyer is satisfied with business and comfortable making paymentsMotivation for selling the note is not a result of a deteriorating businessConsideration of high risk businesses or geographic areasIn these situations, sometimes a partial is a better option. 

if you never miss a payment and the bank doesn’t call the loan due.

I like to find owner finance deals and just finance the down payment for as many years as I can for cash flow.

Yes I know about the VA loan (no down payment) and VA disability payments, more on that later.