Land Loans

Buying land is like buying a expensive car that you cannot drive. It is very important to realize that a land loan should be thought of as a temporary loan. The land loan will be paid off with the construction loan once you are ready to apply for the construction loan. If you are not planning on building soon then you will want a land loan with a long term balloon payment. There usually is only one purpose in getting a land loan and that is to buy the land to eventually build a new home.

The only banks that provide land loans are banks that provide construction loans and even some of these banks will not provide land loans.

Land loan terms usually range from 2, 5 to 20 year loan periods, amortized over 20 and 30 years.

Land loans are also available with interest only options. This can be very beneficial so the land payments are affordable while you are obtaining plans and permits to build your new home.

Buying land is like buying a expensive car that you cannot drive. It is very important to realize that a land loan should be thought of as a temporary loan. The land loan will be paid off with the construction loan once you are ready to apply for the construction loan. If you are not planning on building soon then you will want a land loan with a long term balloon payment.

Call us at (800) 899-3534 or fill out the loan application or send us an e-mail, and we will help you in obtaining the best land loan available.

Summit Lending Services
28822 Via Leona, Suite B
San Juan Capistrano, CA 92675
Telephone: 1-800-899-3534
Fax: (949) 248-3119

Summit Lending Services is America's Number One Nationwide mortgage company qualified in 43 states providing Wholesale Discounted Rates for Refinance, Purchase, First-Time Home Buyer, Debt Consolidation, Home Equity, Construction, Commercial, Bankruptcy, Foreclosure, Private Money, Home Improvement, and Land Loans.

No Credit, Bad Credit? No Problem!

We have experienced specialists on hand to help you even if you currently have no credit, no job, no proof of income, sub 500 credit scores, foreclosure, one day out of bankruptcy, notice of default, or have recently been turned down by another company for any other reason.

Call us today at 1-800-899-3534 so we can put you at ease. Summit Lending Services Is Licensed in 43 States To Better Serve You.

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