The Lowdown on Land Loans...
Lot loans require a larger down payment than your typical home loan. They also have a shorter term.
They are adjustable-rate loans using the current prime rate to calculate your interest.
We also offer a balloon payment option with a smaller down payment if you intend to build within 2 years
We don't have a minimum credit score for any of our Lot Loans, but we do review your payment & credit history for on time payments.
Please call us today for a free no obligation consultation.
Do I Qualify?
- A credit score of at least 620
- DTI ratio between 36% to 43%
- The down payment rate must be at least 20%
- Higher interest rate.
