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Updated almost 9 years ago on . Most recent reply

User Stats

33
Posts
9
Votes
Chris Shuptar
  • Investor
  • Naperville, IL
9
Votes |
33
Posts

Buying unimproved land

Chris Shuptar
  • Investor
  • Naperville, IL
Posted
I'm looking at buying a piece of land for myself. What is different about getting that financed compared to a regular residential loan?

Most Popular Reply

User Stats

187
Posts
113
Votes
Tim Bishop
  • Real Estate Agent
  • Fort Worth, TX
113
Votes |
187
Posts
Tim Bishop
  • Real Estate Agent
  • Fort Worth, TX
Replied

In general, land loans are not as easy to find as a residential loan.  That's the biggest difference.

Your intended use will have a lot to do with what type of loan you can find.  Start calling smaller banks in the area you intend to buy in and they can tell you more about it than I can.  Also start looking for owner finance... It's much more common for land than houses.

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