Land loans in Texas
Land Loans …
Yes, we handle land loans in Texas.
25% downpayment
Rates are 9.0 or 9.25% depending if you plan to build within 12 months or not.
The 12 month loan is interest only
Requirements are …
– have $15,000 bank reserves after cash to closing
– at lease one borrower has middle credit score of 675+
– 43% or less debt/income ratio
– land contract and all the bank, tax return, paystubs, etc
– 30-40 days to close