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T. Bythell, Other/Just Looking in Durham, NC

how hard is it to finance a land-only purchase?

Asked by T. Bythell, Durham, NC Fri Feb 13, 2009

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A lot depends on how much you can put down. I local lender is offering 90% LTV.
1 vote Thank Flag Link Tue Mar 24, 2009
Here are a few local lenders here in Beaufort SC that you can give a call to see what they are offering on Land Only purchases.

Doug Jacobs, South Carolina Bank & Trust, 843-521-5607
Renee Johnson, Lowcountry National Bank, 843-522-1228
Sam McGowen, South Carolina Mortgage, 843-812-6800

When it is time to look for land here in Beaufort or Hilton Head, I hope that you choose me and Maria to represent you as your Buyer's Agent. We have been selling real estate in Georgia and South Carolina for over 10 years.

Chris Skrip, Broker-in-Charge and Owner
RE/MAX Sea Island Realty
1111 Bay Street, Suite A
Beaufort SC 29902
Phone # 843-252-4218
Web Reference: http://www.ChrisSkrip.com
0 votes Thank Flag Link Wed Jul 29, 2009
Hi! It depends on what kind of land you are talking about. If it's commercial land for future development, that's pretty tricky. If it's a lot for your personal home for a residence, that's easier. Banks in this area have been hit hard by lot loans that have gone bad, so they are a little skittish. Also, they are not interested in developer loans at this time. Unfortunately, it has to fit in a certain box, but if it fits it can be done! If you can elaborate on the type of land you are referring to, I can be more specific. Thanks!
0 votes Thank Flag Link Fri Feb 13, 2009
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