Curious what land rates are at for 10 and 15 arms? 450k property value 20% down. Thanks!

Just in case anyone was curious. AgTexas was at 7.45% 10 year fixed 7.49% 15 year arm.

Local bank came back at 6.99% 10 year arm.

I was recently quoted 3.7% on a 5/6 arm 50% LTV and 5% on 20 year-fixed 80% LTV.

TxAg20 said:

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I was recently quoted 3.7% on a 5/6 arm 50% LTV and 5% on 20 year-fixed 80% LTV.

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5% 20 year fixed? That sounds really good. Mind if I ask who that was through?

Community National Bank in Midland. The calculation is 10 year treasury plus 2.25%. It was 4.9X% when I talked to them 2 weeks ago. Looks like it comes to 5.14% today. They'll also do 10 year treasury plus 2% for 15 year fixed. They said this is their "ranch loan" program. I'm not sure if that program is open to the world, or just existing customers. Ranch loans aren't their primary business, but they started this loan program to compete with Texas land banks.

I should add that the rate locks. It doesn't float with the 10 year treasury yield.

SteveBott said:

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It is hard to post generic rates on land. Those lender tend to take a wholistic evaluation of the entire financial situation of the borrowers and the land itself not just so they meet minimum guidelines like residential loans.

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This