Financing Land Purchase In Texas

The vlb veterans land loan program is the only one of its kind in the nation giving texas veterans and military members the opportunity to borrow up to 150 000 to purchase land at competitive interest rates while typically requiring a minimum five percent down payment for tracts of one acre or more.

Financing land purchase in texas.

800 950 8563 contact us ag banking online ag. We can finance acreage of all sizes. If you do find a lender willing to work with you on your purchase of a raw parcel you may find that your loan will fall under the umbrella of commercial lending in which case you should. Texas farm credit provides financing for the purchase of farms ranches and other rural property.

It can be difficult for some buyers to come up with. Texas farm credit finances land purchases for full time farmers and weekend ranchers alike. A land loan allows you to purchase a lot and stake your claim before you ever begin to think about construction alleviating a few of the unknowns that can come along with a new home build. Farm credit institutions typically seek at least 20 percent down payment for a land purchase.

To speak to a mortgage representative call 1 800 580 3300 select option 3 then option 2. While using a farm credit institution is more cost effective than owner financing or leasing to buy it is more costly than purchasing in cash. A cooperative texas bank specializing in financing farms ranches country homes recreational property poultry livestock equipment and agribusiness loans. Buying raw land can be significantly cheaper than buying already improved land but it will be harder to find a lender willing to finance your purchase.