vrod said:This land will offer no income potential. Does that screw me?
This land will offer no income potential. Does that screw me?
Sligh1 said:No way. I haven't seen a bank that didn't loan on straight timber/rec land. Maybe it exists but I haven't seen it. I've seen many folks get loans on straight rec/timber with 25-35% down, in some rare cases, maybe 40%. You'll have plenty of options.
spltbrow said:Hey sligh do you know any banks that are a 25% down? I would love to find one as 10% less down would be great. Just asking as those banks probably are out there but the 2 banks I deal with are 35% down unless it is mainly tillable. Do you have any recommendations or referrals?
Scott said:Fairfield State Bank was 25% if your looking down south. Ask for Floyd.
Scott said:Fairfield State Bank was 25% if your looking down south. Ask for Floyd.
spltbrow said:Is that Iowa state bank in Fairfield? I googled Fairfield state bank and that is what came up. I did not see Floyd listed as a contact. Thanks
What is the interest rate that you pay after you put your money down? Would you be better off building a working cabin on it and calling it a second home so you can use it as a tax deduction?