I’m curious to learn about what types of financing options you have used or know of for hunting/recreational land. Specifically I want to know of interest rates, length of term, required percentage down, etc. I’ve heard of people in the past finding some really favorable options, but I’m looking at a few options right now and what I’m finding is not a lot of places even seem to want to do this type of lending. What have you used and where did you find it?
I know when I was looking, most places were hesitant to do raw/recreational land loans and those that did required a substantial down payment with short terms. Ag Credit Associations are a good start. We have a local ACA (AgChoice) that would lend with 20% down at the time (this was 2011 last time I checked), and about 1% higher than standard rates. Wish I could be of more help. I will be rolling my ground into my mortgage after the construction loan is rolled over.
