How many years can you finance undeveloped land for?
My husband and I are trying to move and want to buy land to buy a home. We have enough for $ 8000 down but need to finance about $ 19000. We want to buy it now so that we can build on it at a later date (in around 6 mos to a year). We don't want anything with a balloon note or ARM. How long can we finance it for and at what %?
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Answer by brokerstorage
i think 10 years is the maximum, because it's a very high risk to the bank.
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