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Started By
Message
Land loan term and rates BR
Posted on 7/22/14 at 1:16 pm
Posted on 7/22/14 at 1:16 pm
I'm looking to buy some land and I'm searching for a bank that will do 10-15% down. Anyone know any in the area?
3
Posted on 7/22/14 at 3:08 pm to geauxcats10
(no message)
This post was edited on 6/11/15 at 9:27 am
Posted on 7/22/14 at 4:40 pm to TigerSaint1
Is that a construction loan? I'm not planning on building
Posted on 7/22/14 at 8:46 pm to geauxcats10
Big difference in a lot loan and a land loan. I couldn't get a lot loan on anything over 3 acres.
Posted on 7/22/14 at 11:17 pm to guesswho
Go with Neighbors if you can truly get a lot loan for only 10-15% down. When we bought our lot, we needed 20% down and the rate was 6.25. That was probably 7 yrs ago when the housing market sucked
Posted on 7/23/14 at 11:35 am to guttata
So I went to neighbors today to inquire about a lot loan for the 3/4 acre lot I'm looking at.
They said since it wasn't in a neighborhood I have to put 30% down.
frick that.
Any other banks?
They said since it wasn't in a neighborhood I have to put 30% down.
frick that.
Any other banks?
Posted on 7/23/14 at 11:43 am to geauxcats10
Ouch
Posted on 7/23/14 at 11:47 am to Mr.Perfect
Is it rural property? If so, try: LINK /
Posted on 7/23/14 at 11:53 am to hungryone
I thought that place was only for farm land?
This post was edited on 7/23/14 at 12:30 pm
Posted on 7/23/14 at 12:24 pm to hungryone
quote:
Posted by hungryone Is it rural property? If so, try: LINK /
They want 25% down
Posted on 7/23/14 at 12:35 pm to geauxcats10
Everything is in a "neighborhood", you mean not in a "subdivision".........
Posted on 7/23/14 at 12:42 pm to Drop4Loss
Yeah... Neighborhood, subdivision same thing to me...
Posted on 7/23/14 at 3:47 pm to geauxcats10
Try First American Bank. That's who I used for 10% down 15-year ARM w/ rate locked for first 5. Rate was around 4.25% Last April
ETA: 2 Acres of Rural Property
ETA: 2 Acres of Rural Property
This post was edited on 7/23/14 at 3:48 pm
Posted on 7/23/14 at 3:53 pm to geauxcats10
If it's the same as when I purchased a few years back you'll be hard pressed to find anything less than 20% on rural.
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