The difference between this type of lender/loan product and a bank will be in process, underwriting requirements, rates, and fees -- so basically everything except that you'll be able to get a 30 year fixed.

Your intent was to hold the lot for productive use with a rental on it. 

Products - and your rental is a product - are priced based on all kinds of factors, including scarcity, business objectives, long-term strategies, etc.

@Eric TilsonDepends mostly on the loan products. 

If it’s like a MN farm it will be a tiny percent if it’s only housing or a section (640 acres) but a much larger percent if it’s housing plus grain or machinery storage on a quarter (160 acres) usually 3-10 acres can be included with the buildings if it isn’t production land. 

A friend of mine has 20 door at good cash flow from each and now his banker calls HIM with deals they've found complete with a loan product ready to go. 

With such a head wind coming from getting a commercial loan you may want to look at non-qualified mortgage products like debt-service-coverage-ratio loans or possibly a HELOC.

You can also find MS Excel templates that will do amortization calculations for you. 

Think long term with massive goals and when you end up with anything less you will still likely be in excellent shape.5.

I also have a little experience and understanding analyzing deals using Excel from school classes but would definitely want to learn more about that!