Posted by David Krulac on December 11, 2000 at 21:34:36:
either. many institutions don’t do land loans, but a bank or savings and loan often do. many mortgage companies do not. some lend at regular residential rates, but often times for shorter periods like 10, 12 or 15 years. Obviously wiht seller financing anything is ok if mutually agreeable.
purchacing land - Posted by Tim
Posted by Tim on December 11, 2000 at 16:13:13:
I’m thinking of buying some land in upstate NY for private use. My question is this: If I took out a loan for this land via bank, investor, or the person who currently owns the property, is it common to have the loan amortized or just interest added to the loan. Thanks, your responses are greatly appreciated