Posted by John Corey on September 25, 2006 at 19:39:20:
This is likely going to be tough and 65% LTV might be too high.
What sort of land is this? Farmland that is actively farmed or a bunch of trees, etc?
Have you asked local lenders as they sometimes are better with raw land or farms, etc. They tend to know the local market and have a sense of what is reasonable.
You might do better by selling than trying to get a loan. Least dead equity even after the transaction costs. I am not saying that you should sell. Just that raw land is not a lenders dream.