Land loans are hard to find. You will pretty much be restricted to working with your bank or a bank in the area of the parcel you want to buy. Expect to put about 50% down and rate will probably be variable.
Check around but they are hard to find.
That is generally called a "lot loan" and few lenders offer them. You'll probably have to put 25-50% down and it will likely be a 2-3 year balloon. Your best bet is likely to be either a local bank or credit union, call around and see what they offer.
You will need to get a lot loan. Charlie is right in one respect, you will be pretty much limited to local banks or credit unions. There are a few mortgage banker that will do them. Check with the realtor you purchased the land from or the builder you plan to use to build your house to see who they recommend using. In every major city there is at least a couple of banks that specialize in lot and new construction loans and they will be the most competitive. I only do loan in Indiana but will offer advice as needed. 317-566-6129
You need a land loan. Check with your local small bank or local small credit union. Figure 20% down.
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