How Do Land Loans Work – How to Get a Land Loan (And What to Know Before You Do)
How Do Land Loans Work – Top 3 Tips For Choosing The Best Company
Make an official land contract:
Land loans aren’t your typical home mortgage, and getting one is much more difficult.
In this video, we’re going to cover:
The Difficulties of Land Loans
Types of Land, and
How and Where to Get a Land Loan
Land loans are harder to qualify for because it’s harder for a lender to re-sell a piece of land than a fully constructed house. So, down payments and interest rates are usually higher for land loans than for mortgages.
So while undeveloped land is generally cheaper than developed land, it’s important to know that financing it can sometimes be a challenge. The upside, of course, is that building your own home or office from the ground up can be really rewarding. Taking this route lets you customize every single detail.
Disclaimer: This video is strictly for educational purposes and is in no way intended to provide legal advice. We do not make any warranties about the completeness, reliability and accuracy of this information. Any action you take upon the information on this video is strictly at your own risk, and we will not be liable for any losses and/or damages in connection with the use of our videos