Recreational Land Loans

No! While GreenStone specializes in financing agricultural land, we also finance vacant land for recreation, future home sites, and some commercial purposes related to agriculture.

A standard down payment is typically 20%, but qualified borrowers can do 15% depending on the land to be financed and the credit profile of the prospective borrower. In certain situations, collateral other than cash, such as equity in an owned home or other property, can be used instead of a cash down payment. View our disclosures page to see an example of the loan structure.

Land loan interest rates depend on various factors, such as the prospect’s credit score and payment history, loan term desired and down payment. Interest rates change frequently, so it’s best to speak with one of our financial services officers for an accurate rate quote.

No! GreenStone can finance rural properties ranging from smaller lots to unlimited acreage. Smaller lots must be in rural or semi-rural areas, not located within city limits.

GreenStone can sometimes include future improvements in the land purchase, depending on various factors such as land value compared to desired loan amount, down payment, your credit situation, cost and scope of the desired improvements and other relevant factors. Other times it may be best to purchase the land and then apply for a separate construction loan, depending on your unique situation. Please speak to a GreenStone lending expert to evaluate your situation and advise which option will be best for you.

Yes, GreenStone offers various financing options to meet your unique situation when you’re ready to build. Different restrictions and options apply depending on property acreage, usage, location and whether the home will be a primary or secondary residence, so it is best to speak with a GreenStone lending expert during the early construction planning stage to explore your financing options.

While it is not required by all realtors, pre-qualification is a good idea to ensure you can move quickly when you do find your perfect piece of land, especially in a competitive market. Pre-qualification also gives you a good idea of your maximum budget for a land purchase, and pre-qualified offers are typically given preference by sellers as they are proof of your serious intent to purchase.

Loan reamoritization can be done quickly without the need to refinance throughout the life of the loan as equity is accumulated. A visit with your local GreenStone financial services officer can get the process started.

Yes, we do offer loans up to 30-year terms. We are one of the few lenders who will write mortgages on vacant land without the stipulation to build within a certain timeframe. Many of our customers use our vacant land mortgages to purchase hunting land or recreational land.