Bank Lot Loans

If you found the perfect lot but you are not ready to being construction, then a lot loan is a good option.  Lot loans are available to purchase or refinance undeveloped land.  Down payments start as low as 20%.  Lot loans are considered interim loans and have maximum terms of 2 or 5 years.  At the end of the term, you can either being construction or refinance the lot.  Programs are available for fixed, interest only or adjustable interest rates and payments can be amortized over 30 years. These terms are also available for refinancing a lot that you already own.