Official Land Purchase and Sale Contract: [ Ссылка ]
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; 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 damages in connection with the use of our videos.
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0:00 Intro
0:31 We'll Discuss
0:35 Why Is Obtaining A Land Loan More Difficult
2:29 504 Loan
3:01 7(A) Loan For Up To $5 Million
3:52 Section 523 Loan
