Is there a loan with lower DP?
Looking to get a mortgage for land. I got quotes for 50% down and 25% down. Are there any loans out there with a lower down? I plan on building an apartment on the land in a few years so that I’ll have rental income. I’m also going to live in one of the units as my primary residence. by paulcaneda952 from Fraser, Colorado. Sep 6th 2022
Dave Skow (daveskow)
#15 ranked lender in Washington - 455 contributions
if you have a source for 75% ltv - you will probably want to persue this option
Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,848 contributions
Land loans are treated differently. Generally the minimum down payment is 20%.
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