Vacant Land Financing
8/1/2019
Tree in meadow of tall green grass and flowers on blue sky day before home construction begins.
 

GreenStone's vacant land financing can help turn a property into your dream home site. 

I dare not even whisper it at work, but we are now in the middle of August and summer is passing us by again. Back to school supplies are stocked on the store shelves and everyone seems to be wrapping up their summer vacation plans. Life is busy, and it just seems to kick into a higher gear in the fall. That’s why it is so nice to go on vacation during the summer and enjoy the time we have with our family and friends.

This summer my family and I took a week-long vacation to Little Platte Lake, just south of Traverse City and near Sleeping Bear Dunes. We had a fantastic time. The weather was perfect, the sunsets were picturesque and the time with family and friends was priceless. And as I do every time I’m someplace that makes me feel so relaxed, I browse through the local real estate listings or go on my cell phone and look through the www.zillow.com web site to see what second homes and vacant land are going for in the area. I always dream of a day I could live in such a beautiful place and call it home or a home away.

For me this idea of a vacation home is still a dream, but many people looking at the same properties are hoping to make it a reality. For those serious buyers getting ready to finance or build their dream home, GreenStone is here to answer questions on recreational property, home sites and vacant land loans. This blog answers common questions about vacant land financing, available options and how GreenStone's flexible financing may be the right fit for you.

Vacant Land Q&A:

What is a vacant land loan?

GreenStone defines a vacant land loan is a parcel equal to or greater than 10 acres. Some banks may cringe when they hear about financing properties over 10 acres, but we actually give a sigh of relief at GreenStone. The more acreage the better as it allows you more options for financing.

 

Can you build on the land?

You can put up a pole barn on the property and we can help finance other improvements to the property that most lenders normally wouldn’t be able to look at. With GreenStone, the more land you need to finance, the better!

 

Does the buyer have to build within a certain time frame?

Not at all. With GreenStone's vacant land loans, you can build when you are ready, or choose to not build at all.

 

What type of loans are available?

GreenStone offers flexible financing for our members. Our financial service officers can help you choose from fixed, adjustable or variable rate loans with flexible terms up to 30 years, whichever option works best for you.

 

How do I apply?

To apply for an online loan request for a vacant land loanclick here. For more questions about GreenStone's Home Site Vacant Land loansrequest more information or stop in a local branch.  If you are interested in learning more about GreenStone's construction, recreational property,or country home mortgage loans, check out these country living blogs.

 


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