How do you finance a vacant lot?

Posted on April 01

Question: I own a home, and would like to buy a vacant lot to build on in the future. I am unsure what the finance options would be for this.

We offer lot loans – 75% LTV under $300k loan; 70% 301k to 399k, and 65% up to 500k. The loans are 3/1 year ARMs with rates in the mid 4′s (credit, income & LTV affect the rate).

Please let me know if you have any other questions about the program.

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