Has anyone had luck finding a loan for raw land?

[Candace Garcia]

I would like to purchase 4 acres of wooded raw land that is zoned AG. It’s attached to the 12 acres I currently own. It’s $60k. I have $20k to put down and will need the rest of my cash for clearing and other plans for the property.

I have reached out to every lender small and large. No one is lending for raw land. I have excellent credit and income but doesn’t seem to matter.

Any creative ideas?

[Cory Smith]

Are you flipping the land or not? If not, then you're probably looking to get the whole thing financed yourself, which is basically a question of "how do I scare up $60k?"

So I won't cover all the normal options of how youd solve that, like a HELOC or 401k draw or whatever.

My creative answer would be for the owner of the land to finance you at, say, 70% LTV.

If you can get them to provide you finance in terms of a mortgage with a lien (and a servicer, all that stuff...) you'll be in a position to acquire the land and the tax burden from them. 

Land doesn't move quickly and you're probably one of the more likely candidates to buy the land (neighbors always are). I would ask them if they'll put together a note with a lien and see how you go. 

Good luck.