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Land Purchase Loans

Loan to purchase land in Michiga.

A land purchase loan provides you the funding to purchase the perfect piece of property to build your home. If you are not ready to begin construction but want to secure the land lot for building in the next few year or even after retirement then a land purchase loan your best choice. Depending on your plans you can choose a fully amortized loan over 30 years or simply a 5 year fixed (5/1 ARM) to take advantage of very low mortgage rates.

Many lender have requirements on the land itself and will not allow some improved land features such as septic tanks or wells however we may be able to help financing any piece of property that you want to buy. Purchase land loans are even available to those that wish to buy land with an existing home on the property that will not meet the guidelines of a conventional mortgage or fha loan. Trailers or cabins are fine with us as long as the land holds most of the value. All pieces of land are different so we are flexible with what types of land you can buy with a purchase land loan.

Lot Land Loans

Lot land loans are designed to allow you to purchase the property that you will someday use to build your dream home. If you intend to building the next two years you may be better off with a construction loan however if you want to reserve a lot or home site that you will build on after retirement or some point down the road then a land lot loan will be your best choice.

Waterfront properties and homes in subdivisions are both acceptable types of land to purchase using a lot loan. We are able to providing financing to purchase many types of home site properties as long as the property is not land locked and available from a public roadway (special exceptions may be available). If you are buying a lot to build a home then a lot land loan will be your best financing choice.

Mobile Home Land Loans

Buying a mobile home may be a difficult challenge if you do not work with the right lender. Mobile home loans on land are difficult to get financed and require large down payments with most lenders however we offer many loan options with as little as 20% down payment. We offer financing on singlewide trailers as well as double wide mobile homes as long as they are on land.

If you are purchasing a double wide home on land and the home is on a permanent foundation then you may be eligible for an FHA loan with only 3.5% down payment. If the home has been moved in the past or no longer has it HUD tags then a mobile home land loan will be your best option.