Recreational Land Loan: Anyone done this before?

[rbeau30]

So, I am going to go look at 35 acres that I think I might be pretty serious about getting. I want a place 2 is hours away where we can get to in a weekend and do camping.

I found a place I think I like ($45K), and rather than writing a check and ALL of my savings be drained, I think I want to explore financing it and paying it off quickly. While keeping my savings and rainy day fund where it is. I have great credit and the means to pay/sizeable down payment so that will not be a problem.

Anyone financed raw land before? Recommend a company?

[XC700116]

Last time I looked into it, my local credit union had the best rates and most trouble free process. I'd start there.

[rbeau30]

Last time I looked into it, my local credit union had the best rates and most trouble free process. I'd start there.

I don't have a Local bank and my current bank is no help. I may have to join one.

[davsel]

My finance lady said to try a bank or credit union that is local to the area you are purchasing.

[mtnrider]

My finance lady said to try a bank or credit union that is local to the area you are purchasing.

^ This. I ran into a similar situation in the past. A local bank or lender will know the in's and out's of financing property in the local area.

[Wulf202]

Join one.

Easier with a construction loan. But definitely doable with a good down and debt to income.

[Great-Kazoo]

Is the land in question accessible, or does it require right of way ? If purchased where is water and power?

[rbeau30]

Is the land in question accessible, or does it require right of way ? If purchased where is water and power?

No water (except for seasonal dry creek) and power I am going to find out when I visit how far away it is. Land is accessible from opposite sides via nice gravel road.

[Great-Kazoo]

No water (except for seasonal dry creek) and power I am going to find out when I visit how far away it is. Land is accessible from opposite sides via nice gravel road.

Are those road[s] public or right of way access ? Unless you have direct access, walk away. Paying / buying off someone els,e to get on to your property can be a real PITA / legal hassle.

We found a place in the 80's outside indian hills, priced right with operating well. Only issue was you have to traverse 25yds over someone else property. Sales said the owner was more then willing to allow access. He didn't say or clarify how many vehicles, time of day or how long access would be granted.

[Ah Pook]

Are those road[s] public or right of way access ? Unless you have direct access, walk away. Paying / buying off someone els,e to get on to your property can be a real PITA / legal hassle.

We found a place in the 80's outside indian hills, priced right with operating well. Only issue was you have to traverse 25yds over someone else property. Sales said the owner was more then willing to allow access. He didn't say or clarify how many vehicles, time of day or how long access would be granted.

Some may have an established ROW and some will have a casual easement. Plat maps will show existing ROWs and if they are still viable.