How to Get a Land Loan (And What to Know Before You Do)

Рет қаралды 47,549

Күн бұрын

SEE OUR UPDATED VIDEO HERE: • How to Get a Land Loan !
Official Land Purchase and Sale Contract: bit.ly/2UTa3Nz
Free Template: eforms.com/purchase-agreement...
Land loans aren’t your typical home mortgage, and getting one is more difficult. In this video, we’re going to cover:
- The Difficulties of Land Loans
- Types of Land
- 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 damages in connection with the use of our videos.
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0:00 Intro:
0:23 We'll Discuss:
0:30 Why Is Obtaining A Land Loan More Difficult:
1:04 Types Of Land:
2:04 Where Can You Get A Land Loan:
2:31 504 Loan:
3:03 7(A) Loan:
3:15 VA Loan Possible If Served In Military:
3:45 Section 523 Loan:
4:00 Section 524 Loan:

Пікірлер: 20

@eFormsOfficial 5 ай бұрын

📄 Create your own Land Purchase and Sale Contract] with our easy-to-follow questionnaire (free trial): eforms.com/form/land-purchase-and-sale-agreement/ ✍ Check out our free DIY resource guide and downloadable templates: eforms.com/purchase-agreements/land/

@tikitillman8453 Жыл бұрын

I knew you would give the most information ☝🏾

@echandler673 2 жыл бұрын

Great video, I didn't know about SBA loans!

@TheVaughns Жыл бұрын

I think you are crossing lines on USDA and VA loans. I think you just need to reiterate the difference of buying land and buying land that has a home on it. Thoughts?

@basementbrasscompany9498 Ай бұрын

Man buying land homes have become so difficult. It is overwhelming.

@mlane7261 2 жыл бұрын

How many years can you finance your land loan? 30? Does it depend on price?

@jackjones9611 2 жыл бұрын

Most are 15 years

@1lityy429 Жыл бұрын

Amazing I’m not sure how but goal/dream is to obtain/buy land for my family .

@225Vikings 4 ай бұрын

VA financing land purchase?

@KatelynnRossi1 4 ай бұрын

A VA Construction Loan allows you to buy land and build a house on it.

@RickyKearnsJr 2 жыл бұрын

How much should i have saved up for a down payment for a land loan?

@memyself4431 2 жыл бұрын

I think it is 25% unimproved and 35% raw and 15% improved those are from what I researched. The lenders have these percentages on their websites

@memyself4431 2 жыл бұрын

Some are less than that

@Karim-wb7iq 2 жыл бұрын

what website are you looking at? I can't find any info

@pegasus3862 2 жыл бұрын

My family’s from Canada manitoba, this was in 2009 but they bought 20 acres for $80,000, they only put a 10-15% down payment down and they said they were able to take out a mortgage for it

@pepapepita5268 2 жыл бұрын

I can’t use my VA loan to a land. It is not true 😏

@mrw777 Жыл бұрын

How is it not true? They told me no.

@samualcalnan4774 Жыл бұрын

You can only use the VA loan to buy land if you are starting new construction on it within 6 months of purchase.

@masterninja9716 Жыл бұрын

Ugh. It’s so frustrating. Trying to get off grid is much more difficult than remaining in the matrix. I too have a pre-approval for a VA loan but I wanna be out in the woods, not in a residential area. Wouldn’t life be amazing? Solar, Tesla wall, garden.