Whether you are purchasing a parcel of land as a long term investment, or if you have plans to develop and build your dream home, build multiple homes or subdivision, or build a commercial or industrial building, Clover Mortgage can help you get the financing you need for your land purchase.
Land loans are used to purchase a type of bare land like a vacant lot or small acreage. The land you have purchased can either be used to build on, redevelop, rezone, or to hold for future development.
Lenders looking to offer a loan for the purchase of land tend to require a larger down payment and prefer to earn higher interest rates for land loans because they are deemed to be riskier than other types of mortgages or loans. This is because a bare lot is seen as a less secure investment than an already established property. Larger down payments ensure the borrower has more equity in the land, making the investment more secure for the lender.
*Commercial Mortgage Rates start as low as 7.49%
We pride ourselves on quick, easy & honest service. Our clients always come first.
We specialize in dealing with bad credit & bank declines. We turn a “no” into a “YES!”
*No credit checks. No complicated application and no income required!