Any ideas how to finance the purchase of a vacant lot (to eventually build home on) when I already own a home?

Moving On Down
Both Buyer and Seller
Delafield, WI

that would not have enought equity for a loan that size? Would I have to sell my current home first? What are my options?

Answers (5)
Vicki
Home Seller
Dousman, WI

We actually have a vacant lot in Dousman, in a subdivision that is only about three years old. Do you have a lot in mind, or are you open to looking at ours? August 8, 2009.

Vicki at bticasa@yahoo.com

Sat Aug 8 2009, 19:47
Brad Koenig-your...
Agent
Delafield, WI

Most local banks can still do vacant lot loans. Usually they are only 5 year loans. You can check with my lender. His info is below.

Matt Gaulke
Great Midwest Bank
Branch Manager-Mortgage Loan Officer
600 Hartbrook Dr. Hartland, WI 53029
Office: 262-367-4200
Cell: 262-844-3984
Fax: 262-367-9079
8 Visit my Website

Brad Koenig
First Weber http://www.DelafieldHomesForSale.com
262-719-7393

Wed Jun 10 2009, 07:46
Andrew Distad
Real Estate Pro
La Quinta, CA

If you can't get bank qualified see if they can seller finance.

If they won't seller finance then tell them they can sell their promissory note for a lump of cash.

(but only if they make it with the right terms like a good down payment and interest rate, etc.)

I actually buy seller financed notes if you have any questions about it.

Andrew

Wed Jun 10 2009, 02:17
Kathi Panor
Agent
Oconomowoc, WI

There are several lenders out there that give lot loans.

Tue Jun 9 2009, 19:17
Anna Brocco
Broker
Williston Park, NY
FIRST ANSWER

Have you visited with a loan officer yet, if not now is the time.

Anna

Tue Jun 9 2009, 18:31

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