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  • February 19, 2009 at 2:33 PM #15106
    Lyra
    Participant

    Hello Pigg mortgage brokers,

    Are land loans still gettable these days? What about the single-close 3-in-1 type loans (land/construction/final)? I know they have never been easy to get compared to SFR loans, but can they still be had with a sufficiently large down? What are the interest rates like?

    Thanks!!

    February 21, 2009 at 11:03 PM #351807
    HLS
    Participant

    Not anything that I can help with any more.
    Lenders that I had to do them have gone the way of the dodo bird…..

    Somebody out there might still be doing them.
    Sorry, but thanks for asking.,,,HLS

    February 21, 2009 at 11:03 PM #352121
    HLS
    Participant

    Not anything that I can help with any more.
    Lenders that I had to do them have gone the way of the dodo bird…..

    Somebody out there might still be doing them.
    Sorry, but thanks for asking.,,,HLS

    February 21, 2009 at 11:03 PM #352250
    HLS
    Participant

    Not anything that I can help with any more.
    Lenders that I had to do them have gone the way of the dodo bird…..

    Somebody out there might still be doing them.
    Sorry, but thanks for asking.,,,HLS

    February 21, 2009 at 11:03 PM #352283
    HLS
    Participant

    Not anything that I can help with any more.
    Lenders that I had to do them have gone the way of the dodo bird…..

    Somebody out there might still be doing them.
    Sorry, but thanks for asking.,,,HLS

    February 21, 2009 at 11:03 PM #352384
    HLS
    Participant

    Not anything that I can help with any more.
    Lenders that I had to do them have gone the way of the dodo bird…..

    Somebody out there might still be doing them.
    Sorry, but thanks for asking.,,,HLS

    February 22, 2009 at 1:12 AM #351872
    sdduuuude
    Participant

    What if it is a short-term construction loan, which includes land purchase ? Then convert the construction loan to a standard mortgage once the house is complete.

    February 22, 2009 at 1:12 AM #352186
    sdduuuude
    Participant

    What if it is a short-term construction loan, which includes land purchase ? Then convert the construction loan to a standard mortgage once the house is complete.

    February 22, 2009 at 1:12 AM #352315
    sdduuuude
    Participant

    What if it is a short-term construction loan, which includes land purchase ? Then convert the construction loan to a standard mortgage once the house is complete.

    February 22, 2009 at 1:12 AM #352347
    sdduuuude
    Participant

    What if it is a short-term construction loan, which includes land purchase ? Then convert the construction loan to a standard mortgage once the house is complete.

    February 22, 2009 at 1:12 AM #352449
    sdduuuude
    Participant

    What if it is a short-term construction loan, which includes land purchase ? Then convert the construction loan to a standard mortgage once the house is complete.

    February 22, 2009 at 7:35 AM #351907
    NotCranky
    Participant

    Indymac and National city mortgage were doing lots of these. Indymac was taken over by the government. The community banks were willing to do this for me in 2003-20O4 with 15% into the project. I didn’t go that route so don’t know much about the programs. You could call one like 1rst Centennial and see if they still do them.They might send you in the right direction anyway. Another way is to have enough money to build and get the owner to carry the land interest only for five years or so, maybe amortized over a longer period but due in five to seven years. A bit of a long shot is to have the owner carry and subordinate to a construction loan.

    I am a general contractor besides a realtor.I don’t need much income. Under the right circumstances I would build a house and infrastructure in exchange for a note or percentage ownership in the property.One of the conditions would be that the owner own the property free and clear at the onset, or owe very little on it. Maybe you could find somebody who would do this. Set up a reasonable deal with an option to buy the partial owner out.

    February 22, 2009 at 7:35 AM #352222
    NotCranky
    Participant

    Indymac and National city mortgage were doing lots of these. Indymac was taken over by the government. The community banks were willing to do this for me in 2003-20O4 with 15% into the project. I didn’t go that route so don’t know much about the programs. You could call one like 1rst Centennial and see if they still do them.They might send you in the right direction anyway. Another way is to have enough money to build and get the owner to carry the land interest only for five years or so, maybe amortized over a longer period but due in five to seven years. A bit of a long shot is to have the owner carry and subordinate to a construction loan.

    I am a general contractor besides a realtor.I don’t need much income. Under the right circumstances I would build a house and infrastructure in exchange for a note or percentage ownership in the property.One of the conditions would be that the owner own the property free and clear at the onset, or owe very little on it. Maybe you could find somebody who would do this. Set up a reasonable deal with an option to buy the partial owner out.

    February 22, 2009 at 7:35 AM #352351
    NotCranky
    Participant

    Indymac and National city mortgage were doing lots of these. Indymac was taken over by the government. The community banks were willing to do this for me in 2003-20O4 with 15% into the project. I didn’t go that route so don’t know much about the programs. You could call one like 1rst Centennial and see if they still do them.They might send you in the right direction anyway. Another way is to have enough money to build and get the owner to carry the land interest only for five years or so, maybe amortized over a longer period but due in five to seven years. A bit of a long shot is to have the owner carry and subordinate to a construction loan.

    I am a general contractor besides a realtor.I don’t need much income. Under the right circumstances I would build a house and infrastructure in exchange for a note or percentage ownership in the property.One of the conditions would be that the owner own the property free and clear at the onset, or owe very little on it. Maybe you could find somebody who would do this. Set up a reasonable deal with an option to buy the partial owner out.

    February 22, 2009 at 7:35 AM #352383
    NotCranky
    Participant

    Indymac and National city mortgage were doing lots of these. Indymac was taken over by the government. The community banks were willing to do this for me in 2003-20O4 with 15% into the project. I didn’t go that route so don’t know much about the programs. You could call one like 1rst Centennial and see if they still do them.They might send you in the right direction anyway. Another way is to have enough money to build and get the owner to carry the land interest only for five years or so, maybe amortized over a longer period but due in five to seven years. A bit of a long shot is to have the owner carry and subordinate to a construction loan.

    I am a general contractor besides a realtor.I don’t need much income. Under the right circumstances I would build a house and infrastructure in exchange for a note or percentage ownership in the property.One of the conditions would be that the owner own the property free and clear at the onset, or owe very little on it. Maybe you could find somebody who would do this. Set up a reasonable deal with an option to buy the partial owner out.

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