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Interest rates on land purchases
Posted on 7/11/16 at 9:12 pm
Posted on 7/11/16 at 9:12 pm
Looking at some property for timber in the mean time and possible development down the road.
Anyone know what percent interest rate I am looking at for a large land purchase. On the US Ag website they vary from 1.5% to 3.5% but I have a hard time believing it would be that low.
Anyone know what percent interest rate I am looking at for a large land purchase. On the US Ag website they vary from 1.5% to 3.5% but I have a hard time believing it would be that low.
3
Posted on 7/11/16 at 9:18 pm to GREENHEAD22
I don't know about vacant land, but I just got 3.375% on my new house.
Posted on 7/11/16 at 9:32 pm to GREENHEAD22
You're probably looking at 4-5%
Check with the Land Bank, typically have the best rates for this type of purchase
Check with the Land Bank, typically have the best rates for this type of purchase
This post was edited on 7/11/16 at 9:34 pm
Posted on 7/11/16 at 9:38 pm to Palo Gaucho
In the process of re-fi my house at 2.62, I had checked on some land next to my house earlier in the year and they wanted 6, as others said a land bank or bank that specializes in agricultural will be the way to go.
Posted on 7/12/16 at 4:54 pm to Palo Gaucho
Yea going to call them tomorrow to start the process.
Posted on 7/12/16 at 6:44 pm to GREENHEAD22
depending on your credit score, you better believe rates are that LOW.
ive used La Land Bank before and there rates are as competitive as any other institution.
they will also let you finance improvments to the property but if you are looking for a true development loan in the future, they dont do that.
ive used La Land Bank before and there rates are as competitive as any other institution.
they will also let you finance improvments to the property but if you are looking for a true development loan in the future, they dont do that.
Posted on 7/12/16 at 6:58 pm to mack the knife
Initially looking to use it as a Timber Farm and for hunting
This post was edited on 7/12/16 at 6:59 pm
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