Understanding Down Payments for Land Loans – Landhub

Understanding Down Payments for Land Loans

with:Admin Adminbuying land, Down Payments, Real Estate Loans

Planning to make a land purchase? Unless you’re going to be paying entirely in cash then you’re going to need to secure a land loan—and that’s going to require a down payment. Down payments for land loans operate a bit differently than down payments for traditional real estate purchases though, and it’s important to understand what’s expected of you so that you can be sure to find a plot of land that fits within your budget. Some national brand conventional lenders are reluctant to loan on raw land, which leaves one with with the options of a local lender, hard money or Farm Credit. I recommend anyone looking to finance land make a call to Farm Credit. https://www.farmcreditfl.com