Land loans 101
June 29, 2005 2:44 PM   Subscribe

Where can I compare rates for land loans? Failing that, any recommendations for good lenders to use for land loans?

I use Bankrate to compare mortgage loans, but I'm finding land loans are harder to find and compare. They seem to vary much more in length and terms (which is likely why they're more difficult to compare).

My credit union is offering a 6.25% ARM for 12 years with a 25% down payment on a 10-acre parcel priced at $100,000. I'm looking for rate comparison, longer terms with a smaller down payment requirement, and hoping to find a fixed rate. This is land we won't build on for a few years, so a construction loan won't work. We have good credit.
posted by letitrain to Work & Money (1 answer total)
 
Oh well :(
posted by letitrain at 5:37 PM on June 30, 2005


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