Q&A: Financing a Vacant Land Purchase

A vacant land purchase may not work with a traditional mortgage. You may need some creative financing strategies to make it work. On today’s episode, I’ll answer a question from someone hoping to buy a vacant tract of land as a place to build a home for retirement. But while the land is priced to sell and the prospective home buyer has a good credit score and enough cash for a substantial down payment, residential mortgage lenders generally won’t underwrite a loan on a piece of vacant land. So watch this video for my advice on what types of creative financing strategies could work best for the purchase of a vacant parcel of land. Be sure subscribe to my YouTube channel for the latest real estate tips and news: http://www.youtube.com/subscription_center?add_user=expertrealestatetips And for more of my real estate and personal finance tips: Read my blog: http://thinkglink.com See my tweets: http://www.twitter.com/glink Follow me on Facebook: http://www.facebook.com/ilyceglink