Finance Questions

Archive for the ‘Mortgages’ Category

Question: How to finance hunting land?

How do you finance hunting land? What are the major companies who do this, like Citi Mortgage for homes, also what are the interest rates for say a 15 year loan.

Answer: Land does not need to have improvements to take a mortgage on, but you aren't going to find a typical home mortgage to finance the property because you aren't going to live on it. Instead, it is considered an investment property and will require a higher interest rate with at least 20% down (sometimes more). Your local bank offers these kinds of loans. If you have good credit you will be likely be looking at 1 % more than the typical home mortgage rate you see published.

Loan Modification - Bank of America, Citi, JP Morgan Chase, and Wells Fargo Gamed the System

Moore4yourMoney #12 - First Time Buyers can buy with only $500 down!