You already know the benefits of owning your own hunting land. The ability to be in control of your own hunting site, develop your property, and increase its value are all great reasons to invest in your own rural getaway.

If you’re already dreaming of time in the deer stand on your own land this year, now is the perfect time to start your search for the land where you will bag your dream buck! Here’s how to get started on your journey to purchase your own property.

1. Determine Your Financial Readiness

Before making a purchase, preparation, communication with your lender, and understanding your goals are all keys to success.

Bring your lender into the conversation as early as possible. Meeting with your lender before you begin searching for land will help you be prepared going into the land purchasing process. Your lender will discuss your financial information to understand what your lending needs are. This can include looking at your credit history, determining how much would be needed for a down payment, and verifying your income history before applying for a loan.

A great way to evaluate your financial readiness before even meeting with your lender is by looking at the Four Cs of Credit: Collateral, Capital, Credit, and Capacity.

1. Collateral analyzes any assets or property you already own that can be used to secure the loan. When you work with GreenStone as your lender, equity from other real estate may be used in place of cash for a down payment on your land in some situations. We also offer competitive down payment options personalized to your unique needs.
2. Capital analyzes your overall financial position; from the cash you have on hand to your savings and investments.
3. Character looks at your borrowing history, such as your credit score and repayment history.
4. Capacity measures your ability to repay a new debt, including your debt-to-income ratio.

Reviewing these financial readiness checkpoints will put you on the right track to getting approval for your loan!

2. Get Your Documents Ready

Having your documentation and information ready can also help streamline the loan approval process. When first meeting with your lender, they will often require the following documentation to complete your loan application:

• Driver’s license or photo I.D.
• Income verification
• Bank account statements
• Retirement account balances

If you’ve already scouted out the property you’re looking to purchase, any additional information you can provide up front to your lender can also speed up your approval process. Property info such as the address, parcel number, and purchase agreement (if you have one) are all useful during the approval stage.

3. Evaluate the Property

A property might look perfect at first- but does it suit your long-term needs? It’s important to evaluate the land for what you want to use it for now, and in the future. Maybe you will eventually like to build a cabin, or your permanent residence on the land. Would it be possible to connect utilities to the property to ensure access to water and electricity? When financing your land with GreenStone, there are no requirements to build on your property, giving you the freedom to truly enjoy your property how you want to!

Another thing to consider are zoning restrictions. Whether the land is zoned as agricultural, residential, or mixed use, could that prohibit you from using the land how you want to? Is there existing public access, or any easements that exist for the property? How about any existing leases that would inhibit your ability to lease the land to other hunters? Doing as much research as possible on the land before purchasing will ensure it remains the perfect property for years to come!

4. Work with a Lender Who Understands Hunting Land Loans

Working with a lender who specializes in recreational land loans is the key to success. GreenStone’s dedicated team of loan experts are here to help you through the loan process and fit the right loan and terms for your needs. To speak with one of GreenStone’s financial services officers about financing your dream property, visit a GreenStone branch near you.