By Automan Empire
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2018 Apr 19, 10:37am
2,550 views 9 comments
Whatever happened to pay cash or fuck you???
in years past my traditional bank told me vacant land usually needs 50%LTV to even consider an application.
What loan amount you looking for? Ltv?
FortWayne saysWhat loan amount you looking for? Ltv?About $36,000, 75% LTV
I'd like to shop it around to private investors at a generous interest rate and short amortization schedule. Right now I can put 25% on the table; I understand conventional lenders won't touch less than 50% down on vacant land. What kind of numbers would interest a private investor in this scenario? I've penciled it out at 10% on a 5 year mortgage which is totally doable on my end.