Vacant Land Loans Colorado

Vacant land loans are riskier for lenders because the property is currently unoccupied or not being used and it is easier for the owner to walk away and leave the lender with the land. 

Typically, unimproved land or raw land is the most difficult type of property on which to secure a loan.  As a result, banks and other institutional lenders will ask for a significant down payment - typically 25 to 35% and some will ask for 50 percent and loan you the money for only a short period of time - 30 years amortized with the loan due in 3 or 5 years with a prepayment penalty; or, 10, 15, or 20 years with a high rate of interest.. 

ALTHOUGH WE ARE SEEING MUCH VOLATILITY IN THE LENDING MARKET, The good news is that I can still offer you a bare lot (vacant) land loan with a 15-year fixed rate for only 10 percent down with no prepayment penalty and no balloon payment!  Or, on parcels of land that qualify, I can also offer you a fully amortized loan over 15, 20 and 25 year with only 20 percent down.   Also, for those of you in need I have access to private money financing. 

And, when you are ready to build a home, some of these loans can be converted to construction and permanent financing for your primary or second/vacation home!

I specialize in vacant land loans and rural homes (primary and second/vacation homes) in all of Colorado.   If you have a few minutes to give me some basic information I can pre-qualify you for your land or home purchase and present your real estate agent with a pre-qualification letter that he/she can take to the seller when presenting your offer. 

REMEMBER THAT AS A GENERAL RULE, WEAKER THAN EXPECTED ECONOMIC DATA IS GOOD FOR RATES, WHILE POSITIVE DATA CAUSES RATES TO RISE.

If you have questions please feel free to click on "contact" on my home page and shoot me an email.  I will respond as quickly as possible.