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re: Lot advice
Posted on 4/13/14 at 6:46 pm to Kreg Jennings
Posted on 4/13/14 at 6:46 pm to Kreg Jennings
quote:
Finance the lot...pay it down a few years so you have some equity when you start building.
That is exactly the plan we have. Going to contact my local credit union tomorrow and see what the options are for financing. Most of what I have read online said it is very difficult to achieve financing.
2
Posted on 4/13/14 at 7:34 pm to daviddsims
We did the exact thing you are looking at doing. We went through our credit union. Rate was 6.5% when we did it. Paid the lot down over 3-4 yrs and then built. We've been in the house a little over a yr now.
Posted on 4/13/14 at 8:21 pm to daviddsims
We financed a lot about 5 years ago. Had to put down 20% of the cost of the lot. If you have 20% it probably won't be hard to get the financing done.
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