yes it is a residential lot, the developer is selling it. It is lakefront property located in South Georgia. There are only 2 lots left and I don't see the developer holding paper. I have great credit, and maybe 10% down, can you suggest the right direction to look for a loan.
Quote:
On 2003-11-19 12:37, elissnurse wrote:
yes it is a residential lot, the developer is selling it. It is lakefront property located in South Georgia. There are only 2 lots left and I don't see the developer holding paper. I have great credit, and maybe 10% down, can you suggest the right direction to look for a loan.
The right direction would be to write down the terms you want to get a mortgage on this property for. X amount down X amount financed.... Then take those numbers to every lender you can find until you get the one willing to to do the finance and had the best rate. There are 1,000's of lenders out their put it out to as many as you want.
I assume you are talking about a residential lot and not agricultural property.
LTV is usually 80%, but exceptions are made depending on credit and such.
Many land sellers are open to partial owner financing.
At least that's the way it is here. Where is the land you want to purchase ?
yes it is a residential lot, the developer is selling it. It is lakefront property located in South Georgia. There are only 2 lots left and I don't see the developer holding paper. I have great credit, and maybe 10% down, can you suggest the right direction to look for a loan.
Quote:
On 2003-11-19 12:37, elissnurse wrote:
yes it is a residential lot, the developer is selling it. It is lakefront property located in South Georgia. There are only 2 lots left and I don't see the developer holding paper. I have great credit, and maybe 10% down, can you suggest the right direction to look for a loan.
The right direction would be to write down the terms you want to get a mortgage on this property for. X amount down X amount financed.... Then take those numbers to every lender you can find until you get the one willing to to do the finance and had the best rate. There are 1,000's of lenders out their put it out to as many as you want.