Comments on: Land Loans And How To Get The Best Interest Rates http://www.bestlandloans.com/land-loans-and-how-to-get-the-best-interest-rates/ Your one stop source for the best land loans Mon, 21 Nov 2011 15:21:53 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Kamerin http://www.bestlandloans.com/land-loans-and-how-to-get-the-best-interest-rates/#comment-23807 Kamerin Thu, 03 Nov 2011 23:08:14 +0000 http://www.bestlandloans.com/?p=76#comment-23807 The first loan is through GT Mortgage, and the second is through Clayton Homes. Both require us to purchase a brand new home. The first loan is through GT Mortgage, and the second is through Clayton Homes. Both require us to purchase a brand new home.

]]> By: Kamerin http://www.bestlandloans.com/land-loans-and-how-to-get-the-best-interest-rates/#comment-23806 Kamerin Thu, 03 Nov 2011 23:06:04 +0000 http://www.bestlandloans.com/?p=76#comment-23806 We have found a USDA 100% financing loan for a new manufactured home/land package. The interest rate I believe is in the 6% zone. When I called up the manufactured home company, they offered a home/land package, 100% financing, in the 4% range. My husband and I would prefer to get a yurt though.. or a used manufactured home.. or else, to build our home ourselves! And we would like the loan to cover about 75,000 and to be in the 4% interest rate range. But it sounds impossible to find a type of loan that meets our desires! We have found a USDA 100% financing loan for a new manufactured home/land package. The interest rate I believe is in the 6% zone. When I called up the manufactured home company, they offered a home/land package, 100% financing, in the 4% range. My husband and I would prefer to get a yurt though.. or a used manufactured home.. or else, to build our home ourselves! And we would like the loan to cover about 75,000 and to be in the 4% interest rate range. But it sounds impossible to find a type of loan that meets our desires!

]]> By: Dave Jones http://www.bestlandloans.com/land-loans-and-how-to-get-the-best-interest-rates/#comment-22568 Dave Jones Wed, 12 Oct 2011 17:44:20 +0000 http://www.bestlandloans.com/?p=76#comment-22568 Swapnil - I have forwarded you some information. Jill - Thank you and you are very welcome. In regards to your question, I would have to warn you that a land loan with 0 down payment is rare, if not obsolete nowadays. I would say that you are most likely looking into $10-15k as a down payment, and I would advise that you find an independent lender or group of lenders to handle the loan instead of a bank institution to achieve the best interest rate. Also make sure that you mention your plans of construction and ask for a joint loan. Hope this helps and let me know if you have any other questions. Swapnil – I have forwarded you some information.

Jill – Thank you and you are very welcome. In regards to your question, I would have to warn you that a land loan with 0 down payment is rare, if not obsolete nowadays. I would say that you are most likely looking into $10-15k as a down payment, and I would advise that you find an independent lender or group of lenders to handle the loan instead of a bank institution to achieve the best interest rate. Also make sure that you mention your plans of construction and ask for a joint loan.

Hope this helps and let me know if you have any other questions.

]]> By: Dave Jones http://www.bestlandloans.com/land-loans-and-how-to-get-the-best-interest-rates/#comment-21019 Dave Jones Mon, 12 Sep 2011 21:24:24 +0000 http://www.bestlandloans.com/?p=76#comment-21019 Hello Norman - First of all, I would like to warn you that $1,500,000 is rather a large sum to ask for when it comes to land loans. As for the 25% down, that is the standard these days. I would expect the average interest rate for such loan to be around 12%-15% if you manage to get approved for it. RobH - I would hold on to that land loan because it's really tough to get refinanced and 9% is a good rate in my opinion. I am in the process of negotiating with several lenders so that I can get them to offer better rates to the visitors of the site, so keep an eye out for my new post! Cortney - While a foreclosure can make things difficult for you, I would say that since you have a steady income and a long work history, you would be able to get an individual lender to approve you for a land loan. Hello Norman – First of all, I would like to warn you that $1,500,000 is rather a large sum to ask for when it comes to land loans. As for the 25% down, that is the standard these days. I would expect the average interest rate for such loan to be around 12%-15% if you manage to get approved for it.

RobH – I would hold on to that land loan because it’s really tough to get refinanced and 9% is a good rate in my opinion. I am in the process of negotiating with several lenders so that I can get them to offer better rates to the visitors of the site, so keep an eye out for my new post!

Cortney – While a foreclosure can make things difficult for you, I would say that since you have a steady income and a long work history, you would be able to get an individual lender to approve you for a land loan.

]]> By: swapnil patel http://www.bestlandloans.com/land-loans-and-how-to-get-the-best-interest-rates/#comment-20808 swapnil patel Thu, 08 Sep 2011 07:36:46 +0000 http://www.bestlandloans.com/?p=76#comment-20808 We would like to buy land worh Rs 15,00,000 at Malshed ghat. Request you to please advise as which docs require and the rate of interest. Please treat this as urgent. We would like to buy land worh Rs 15,00,000 at Malshed ghat. Request you to please advise as which docs require and the rate of interest.

Please treat this as urgent.

]]> By: Cortney http://www.bestlandloans.com/land-loans-and-how-to-get-the-best-interest-rates/#comment-20783 Cortney Wed, 07 Sep 2011 18:45:07 +0000 http://www.bestlandloans.com/?p=76#comment-20783 I have found a 10 acre area for sale that is currently a hay meadow. There is currently a steel building, well, and septic on the property. What types of land loans would be an option? Also, we had a foreclosure on our credit in 2009 - and are not able to get a mortgage loan for another year and a half. Will that be the same for a land loan or if we have steady income/very long reliable work history- do you think we could get approved? thanks! I have found a 10 acre area for sale that is currently a hay meadow. There is currently a steel building, well, and septic on the property. What types of land loans would be an option? Also, we had a foreclosure on our credit in 2009 – and are not able to get a mortgage loan for another year and a half. Will that be the same for a land loan or if we have steady income/very long reliable work history- do you think we could get approved?

thanks!

]]> By: RobH http://www.bestlandloans.com/land-loans-and-how-to-get-the-best-interest-rates/#comment-20341 RobH Mon, 29 Aug 2011 15:19:39 +0000 http://www.bestlandloans.com/?p=76#comment-20341 Hi Dave, Thanks for the great information on this website. I currently have a land loan for 9+ acres in SD and the interest rate is 9%. The lot is in a developing neighborhood and has phone/electricity to the lot. Should I be able to get a better rate in today's market? Are there lenders that you recommend? Please feel free to email me. Thanks, Rob Hi Dave,

Thanks for the great information on this website. I currently have a land loan for 9+ acres in SD and the interest rate is 9%. The lot is in a developing neighborhood and has phone/electricity to the lot. Should I be able to get a better rate in today’s market? Are there lenders that you recommend? Please feel free to email me.

Thanks,
Rob

]]> By: Jill http://www.bestlandloans.com/land-loans-and-how-to-get-the-best-interest-rates/#comment-19317 Jill Mon, 08 Aug 2011 15:45:14 +0000 http://www.bestlandloans.com/?p=76#comment-19317 Hi Dave, I would first like to say that you offer a wonderful service! I am so impressed with your site which brings me to my question. My husband & I are looking to purchase a lot for 60k on a golf course in Upstate SC with intentions of building our home asap. In terms of down payment, what would be the difference of 0 down vs 5k/10k down? And how does this roll over into a construction loan? Thank you in advance! Jill Hi Dave,
I would first like to say that you offer a wonderful service! I am so impressed with your site which brings me to my question.
My husband & I are looking to purchase a lot for 60k on a golf course in Upstate SC with intentions of building our home asap. In terms of down payment, what would be the difference of 0 down vs 5k/10k down? And how does this roll over into a construction loan?
Thank you in advance!
Jill

]]> By: Norman Spivock http://www.bestlandloans.com/land-loans-and-how-to-get-the-best-interest-rates/#comment-17971 Norman Spivock Wed, 13 Jul 2011 21:58:42 +0000 http://www.bestlandloans.com/?p=76#comment-17971 Could you tell me what's a ballpark estimate of the interest rate on a land loan (about $1,500,000)? Say 25% down. Due in longer than a few years. Say, property in Indio, Riverside County, CA. Like 3%-5%, or 10%-20% per annum, A response from you will involve NO obligation of any kind whatsoever on your part. Thanks. Could you tell me what’s a ballpark estimate of the interest rate on a land loan (about $1,500,000)? Say 25% down. Due in longer than a few years.
Say, property in Indio, Riverside County, CA.
Like 3%-5%, or 10%-20% per annum, A response from you will involve NO obligation of any kind whatsoever on your part.
Thanks.

]]> By: Dave Jones http://www.bestlandloans.com/land-loans-and-how-to-get-the-best-interest-rates/#comment-17710 Dave Jones Thu, 07 Jul 2011 23:22:16 +0000 http://www.bestlandloans.com/?p=76#comment-17710 Virginia, I would start by reading some of the articles on the site. Land financing is a rather complicated process so you need to do your research first. After you read some articles, let me know if you have any specific questions and I will do my best to help! Thanks, Dave Virginia,

I would start by reading some of the articles on the site. Land financing is a rather complicated process so you need to do your research first. After you read some articles, let me know if you have any specific questions and I will do my best to help!

Thanks,
Dave

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