How/where would you finance small acreage lot in Felicianas

Feliciana Bank or Bank of Zachary will be more likely to do this, get a Lot Loan. Interest is a little higher than a construction or mortgage loan. They deal with more rural areas than other banks and seemed to be more flexible on their lending. I used Bank of Zachary for my construction loan and was very happy with their service.

Call Guaranty Bank in Port Allen. They have some good lot financing programs, ranging from Interest only to long term notes. I found them very helpful when I was researching this same thing.

Guaranty bank in New Roads and Zachary both do lot loans.

ETA. I am in a remarkably similar situation.

I wouldn’t put 50% down though. Put down 20% and invest the $30,000. You should be able to make a lot better return vs. the interest you’ll pay on the loan.

I might be able to help you with yours then. I work at EFCU Financial (Credit Union) and we do 100% financing on something land like this. Throughout all of Louisiana... Plus we typically allow for a 20yr Amortization on the payment if the loan amount is $50k or more. You can call me on my work cell if interested. JoshR@efcufinancial.org 225-975-3014

Last time I bought land which was many years ago I could only finance 70 of appraised value. Two questions for you. Could I now get a loan for a higher percentage of the value? And, approximately what would be the interest rate for a 10 year loan?

Thanks.