As far as financing... very few banks offer mortgages on undeveloped land and if they do they're going to want 30%-40% down, with good credit. So that leaves owner financing and any reasonable seller is going to ask for no less then 30%+ down with the balance paid off within a few years. Credit aside, you need to save a significant amount of cash too.
1 - 2 of 24 Posts
As far as financing... very few banks offer mortgages on undeveloped land and if they do they're going to want 30%-40% down, with good credit. So that leaves owner financing and any reasonable seller is going to ask for no less then 30%+ down with the balance paid off within a few years. Credit aside, you need to save a significant amount of cash too.
1 - 2 of 24 Posts
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