Loan for property purchase |
|
|
|
mattt0696
First Time Poster
Cash: $ 0.25
Posts: 1
Joined: 03 Aug 2013
|
Loan for property purchase |
|
|
My wife and i are looking into purchasing a piece of land(empty). We are currently not looking to build till about 5-6 years down the road. What would be the best way to purchase the property? Are their particular loans for this?
|
Sat Aug 03, 2013 8:51 pm |
|
|
oldguy
Senior Member
Cash: $ 751.85
Posts: 3656
Joined: 21 May 2006
Location: arizona |
A common way to buy raw land is owner-financed. Banks seldom write a mortgage against non-income producing land. Or, if you are buying rentable farmland (say a 20 acre cornfield) you might get a mortgae.
|
Sat Aug 03, 2013 10:36 pm |
|
|
Wino
Senior Member
Cash: $ 113.80
Posts: 560
Joined: 03 Aug 2012
Location: Dubai |
There's a program in Texas for military veterans to buy rural land. I don't know any of the particulars, but you could easily google it if you're in Texas and a veteran.
|
Sat Aug 03, 2013 10:40 pm |
|
|
naina8888
Member
Cash: $ 0.75
Posts: 18
Joined: 07 Aug 2013
Location: Bellevue |
Which area you are looking for to buy? Are you buying it just for investment or use purpose.
|
Wed Aug 07, 2013 2:02 pm |
|
|
|