Posted on: 08th Jan, 2014 12:17 am
Hello there... I am planning to purchase a land. I need to know how much down payment is required to purchase the land.
Compared to other residential mortgages, you may have to provide a higher down payment. Some lenders may ask you for a down payment of 35% or more. However, everything will depend on the land.
Hi Guest!
Welcome to the forums!
Yes, it is true that land loans may require a higher down payment compared to other loan options. Contact your lender and he will let you know as to how much down payment you will have to pay.
Feel free to ask if you've further queries.
Sussane
Welcome to the forums!
Yes, it is true that land loans may require a higher down payment compared to other loan options. Contact your lender and he will let you know as to how much down payment you will have to pay.
Feel free to ask if you've further queries.
Sussane