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What is a lot loan?
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19th Nov 2009 by Burt Carlson
A lot loan is for borrowers who want to purchase raw land. the land can be held and improved at a later date or it can be improved immediately. Normally these loans are made to borrowers who want to build a second or vacation home in an outlying area. In today's market lot loans are hard to find as the market has deemed them to be too risky. They generaly come with stricter qualifying requirements and require large down payments.
A lot loan is for borrowers who want to purchase raw land. the land can be held and improved at a later date or it can be improved immediately. Normally these loans are made to borrowers who want to build a second or vacation home in an outlying area. In today's market lot loans are hard to find as the market has deemed them to be too risky. They generaly come with stricter qualifying requirements and require large down payments.
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17th Nov 2009 In Finance
1 Answers | 51 Views
Subjects: lot loan,