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Updated over 1 year ago on . Most recent reply
Looking for land loan
My brother and I are looking to co-sign on a loan to purchase a residential lot with plans to build a spec in the near future. Curious about what type of loan would be best for this situation. Any advice is appreciated!
Most Popular Reply
Quote from @Wiley D'Spain:
My brother and I are looking to co-sign on a loan to purchase a residential lot with plans to build a spec in the near future. Curious about what type of loan would be best for this situation. Any advice is appreciated!
You could also do a One time close construction loan... especially if you already have a builder and plans/specs in hand. This will save you from having to finance the land, and then finance the house. Just roll it all up into one. Bonus points if you can get the land under valued, and have more immediate equity in the deal