- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Looking for a Lot Loan
Posted on 3/19/14 at 8:24 pm
Posted on 3/19/14 at 8:24 pm
I am looking to buy 4 acres. I will be building on it in 3-5 yrs. Any one know which banks I should contact? And what the % rates are going to be. TIA
3
Posted on 3/19/14 at 8:29 pm to rednecksouthpaw
6.5% and it will be land loan. I couldn't find any banks with good rates for anything over 3 acres.
Posted on 3/19/14 at 8:31 pm to guesswho
Who did you end up using for your land loan?
Posted on 3/19/14 at 8:34 pm to rednecksouthpaw
Local credit union here in br. Have twenty percent ready fyi.
Posted on 3/19/14 at 8:36 pm to guesswho
My mother just closed on a lot loan with Investar. Again be prepared for a down payment,
Posted on 3/19/14 at 8:38 pm to GFunk
I'm pretty sure LA Land Bank would do something like that.
Posted on 3/19/14 at 9:00 pm to LSU1018
BancorpSouth. 20% down. 7.1% for 10 yrs
Posted on 3/19/14 at 10:46 pm to rednecksouthpaw
Guaranty Bank In Zachary does lot loans.
0 down
Interest only payments but you have to build on it within a year
If you don't, they require 10%
0 down
Interest only payments but you have to build on it within a year
If you don't, they require 10%
Posted on 3/19/14 at 11:31 pm to LSUAlum2001
Yea land loans are higher. E-Federal credit union was 15 years at 6% about 5 years ago when I got mine. They were the lowest I found at the time.
Posted on 3/20/14 at 7:36 am to vettegc
I used E federal Credit Union when we did our lot loan. It was 6.5%. Needed 20% down.
Posted on 3/20/14 at 7:55 am to rednecksouthpaw
Do you have equity in your current home? We took out a HELOC to buy our lot. This way the interest is deductible since the actual loan is on your house. The rate is probably better too.
Posted on 3/20/14 at 8:16 am to ATOlurker
Probably have about $30000 in equity . Not near enough to cover the cost of the land. I have to 20% down payment. Just trying to see what institutions where giving as far as interest rates.
Posted on 3/20/14 at 9:48 am to rednecksouthpaw
call whitney bank..i dont know the current land rates but 6-7% should be the ballpark
Posted on 3/20/14 at 10:05 am to hawkeye007
why are banks so strict on lending to purchase land when land is your safest investment?
Posted on 3/20/14 at 10:11 pm to Ford Frenzy
Harder to sell land is why
Posted on 3/21/14 at 1:16 pm to Ford Frenzy
Because land is just like a boat loan, it's the first thing that goes when something goes bad
Word through the grapevine is Dow is offering arm land loans, rates in the fours and lower
Pretty smart of them, most everyone is know is 6-7
Word through the grapevine is Dow is offering arm land loans, rates in the fours and lower
Pretty smart of them, most everyone is know is 6-7
Posted on 3/21/14 at 9:15 pm to rednecksouthpaw
I work for a bank that offers land loans, up to 15 years and up to 100% financing depending on price and credit. Rates range from 6.75%-8.75%
Page 1 of 1
Back to top
Follow TigerDroppings for LSU Football News