2007-11-06 12:12:53 · 6 answers · asked by Lorrie M 1 in Business & Finance ➔ Renting & Real Estate
You can borrow money from a bank for land, or you can wheel it around in a barrow on land.
2007-11-06 13:30:31 · answer #1 · answered by Anonymous · 1⤊ 0⤋
Yes you can as long as your credit is good.If the land is very expensive than you need a greater credit score. My friend just bought land in another state and did just that and makes payments every month on it,
2007-11-06 12:32:44 · answer #2 · answered by nappa 7 · 0⤊ 0⤋
seller financing of land is not unusual
bank financing [mortgage] would likely be on very strict terms -- 20% or more down payment for productive land that will continue in production, 50% down payment for fallow properties with proven ability to make payments from other resources.
GL
2007-11-06 12:22:39 · answer #3 · answered by Spock (rhp) 7 · 0⤊ 0⤋
yes, with a down payment. no 100% loans on land that i've heard of.
2007-11-06 12:18:44 · answer #4 · answered by Alex G 1 · 0⤊ 0⤋
Yes, general rule of thumb is 30% down.
2007-11-06 12:21:55 · answer #5 · answered by musicjunkie 2 · 0⤊ 0⤋
yes you can BORROW money for land as long as the land has VALUE
2007-11-06 12:17:24 · answer #6 · answered by ElDiablo 2 · 0⤊ 0⤋