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Lot loan/Land loan

3,372 Views | 6 Replies | Last: 3 yr ago by hendersonross
aggiebutterfly
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AG
Looking to purchase 1.5-2 acres of land in Comal county. Any suggestions on who to use for a loan? I can put 30% down.
AgPT06
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AG
Small banks is your go to. We just closed on lot loan in Comal county in January. We used Round Top State bank. Great experience. PM me if you want contact info for the loan officer we used.
GoodAg84
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AG
We offer Lot/Land Loans up to $750k loan amount, 35% down. 20 year term. Happy to help the extra 5% down works for you. My contact info is in my profile.

Gig Em!

TexAg2001
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AG
Not wanting to hijack your thread, but adding something I recently experienced.

I was looking at purchasing a couple acres in Montgomery County and reached out to 4 different small banks that were recommended by the development. I've never purchased land before and was shocked by what I was offered, but maybe this is normal for land only:

Only 2 of them did fixed rates and they were 6% and 7.25% for 15 years. Them and the others also offered ARMs between 4.25% - 7.25% for 10 to 20 years. With interest rates doing what they're doing, there is no way I would get into an ARM. Required down payments ranged from 10% - 25% (we planned on 30%).
AgPT06
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AG
ARM is pretty normal for lot loans. The expectation is that you will be building on it sooner than later and roll it into your new mortgage.
aggiebutterfly
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AG
Can you text me. I'm unable to PM
713/five 40-five 295
hendersonross
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Little banks is your go to. I just shut on part advance in province in April. We utilized bank https://northnloans.ca/ontario-payday-loans/ that I find in internet. This is a good solution if funds are needed as soon as possible. This service can help you get this type of help with no fuss.
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