Land Loans Construction Loans Land For Sale
Best Land Loans begun as a simple project to help people choose the right loans for land but it has evolved way beyond that. As most of you already know, once I decided to share my personal email address, I started receiving a series of financial questions from visitors. It is worth noting that I received many questions in regards to construction loans and many inquiries about finding cheap land for sale. That is why I decided to make posts about them. After those posts, and within the last couple of months, I have been trying to decide whether I should continue writing about all of those at the same place, or if I should devote a separate page for each, and I would appreciate your input in this decision. If we decide on the latter, then this is what you can expect to happen within the next month or two.
The homepage will remain almost intact, and we will continue to discuss land financing, which involved land loans, farm loans and lot loans. I will get into more detail about farm loans that have been left aside due to the two new themes of the site. Furthermore, I will try to provide a land loan calculator for all of those who have asked me for one. We will discuss land loan rates and how you can achieve to lower them depending on the type of land for sale you interested in and whether you plan to apply for any commercial or residential construction loan after you own the land.
A new sub blog will be created and it will be devoted to construction loans. In most cases, a construction loan will be the very next step you need to take after you get approved for any land loan, so it makes sense that it would have its own place within Best Land Loans. You can expect posts in regards to construction loan rates and I will advise you if any new construction loans are announced in the market. The section on construction loans will also feature a construction loan calculator because, even the slightest mistake in calculating your month payments can put you out of budget.
Last but certainly not least, there will be another sub blog where I will offer tips and advice in regards to finding cheap land for sale by owner and by the government. We will discuss the differences between buying farm or hunting land for sale, and the different rules that land sales may have to follow based on the state. I recently helped a visitor purchase some farm land for sale in PA, instead of hunting land for sale in Washington state which was his initial goal. Trust me when I say that the location and the type of land play a huge role in the price and the terms of use. That is especially true with government land for sale, which may be cheaper, but could potentially not work for everyone. After you find the land, then you will easily refer back to the home to find the appropriate land financing, whether that is going to be in the form of land loans or farm loans.
So, there you have it. Would you prefer three separate sections, one for land loans, one for construction loans, and one more to help you find some cheap land for sale, or would it be better if we meshed it all up into the main site as it is at the moment? The bottom line is that Best Land Loans is changing and that is because of all the response we’ve had from you. I have even asked for others to help me respond to emails and offer advice. We owe the success of Best Land Loans to you, and that is why I want you to decide how the site will evolve further!
March 22nd, 2011 at 6:22 am
how much can we benefit from a land loan compared to a traditional mortgage?
June 21st, 2011 at 11:32 pm
In general, the terms of loan made specifically for the purpose of land financing will be much more advantageous for you.
August 3rd, 2011 at 3:35 pm
My company (Notchwood LLC) purchased a “rip down” house in a premier location (Upper Montclair/Little Falls, NJ)
overlooking Montclair University and with views of Manhatten. I funded the entity, supplying them with the capital, over $500K to date.Subsequent to purchase the structure was demolished and carted away, engineered and sub divided into two building lots. Extension of infrastructure must be completed to implement final subdivision so that each lot can be sold or built to suit. I would like to borrow $250 K using the land as collateral, immediately finalize the lot improvement and offer the lot or lots for sale or built to suit. There are no comparable lots for sale within the area unless of course you acquire a “rip down”. The area would support $750-950K housing. The discounted lot sale would be $375K which I would market for immediate sale and pay off the loan from the first lot sale. The parcel is free and clear and taxes are paid. It presently is assessed as one lot for taxes in the amount of $439K. Banks, as you know, do not lend on this scenerio in todays market and I seek assistance.
Ralph Nuzzo
August 3rd, 2011 at 3:37 pm
I seek your assistance
August 21st, 2011 at 12:17 am
I am considering making an offer on a property listed at 24,500. I would be able to put $10,000 down and would like to ask if the owner will finance the balance. I’d like to negotiate 4% interest over seven years. Is that reasonable to ask? Also, what if I am able to pay the owner off before the seven years, how is that negotiated to my advantage?
September 7th, 2011 at 3:11 pm
i want to buy a vacant land in india, andhra pradesh, guntur. how much amount can i get???
September 22nd, 2011 at 2:53 pm
I have 33 acres in VA presently financed At 6-1/4 over 24.5 years and would like better terms. I have good credit but do not want to use my house as collateral or fold the loan into a any other – private, heloc or other.