Does anyone know where I can find a residential lot loan with a term of 10 years instead of the standard 5? Thank you.

Asked by Tahoe1, 96161 Mon Jun 21, 2010

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3
Tony Mark, Agent, MALIBU, CA
Tue Jun 22, 2010
Well that depends...are you asking for any lot? Do you have a particular site in mind? Would you be interested in Seller/owner financing, there are a few in Truckee where sellers are willing to finance with certain terms. It seems that US Bank is one of the only banks out there willing to lend on land (with the 5 yr term ).

Jessica Pyne

530-386-2559
0 votes
Carl Henker, , 95928
Mon Jun 21, 2010
In the current market 5 years is long term most are 2 to 3 years. Good Luck!
0 votes
Sean Dawes, , Philadelphia, PA
Mon Jun 21, 2010
Tahoe,

Looking to build on it or no?

There were some construction to perm financing options out there that some banks were doing where they would be basically 3.5% down FHA.

Prosperity Mortgage did them maybe 1yr ago. Might want to try contacting them.


Sean
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