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Beginners Board
Borrowing money to Buy land- advice
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<blockquote data-quote="Anonymous" data-source="post: 35252"><p>I am trying to by abot 50 acres of farmland and woods 30/20 next to me. where is the best place to try and borrow the money. I would like to stretch it out to 30 years at first until my home is paid for( 10 years) then pay it off sooner. the big problen it seems like is the down payment I will only be able to come up with 5-10 % down. it seems like that it a sticking point for many lenders. My credit is great, my wife and i both have great jobs, and we have some collateral. any ideas would be appreciated. ps: i have two boys I would liike to see raise some cattle on it in the future, ( and their dad too)</p></blockquote><p></p>
[QUOTE="Anonymous, post: 35252"] I am trying to by abot 50 acres of farmland and woods 30/20 next to me. where is the best place to try and borrow the money. I would like to stretch it out to 30 years at first until my home is paid for( 10 years) then pay it off sooner. the big problen it seems like is the down payment I will only be able to come up with 5-10 % down. it seems like that it a sticking point for many lenders. My credit is great, my wife and i both have great jobs, and we have some collateral. any ideas would be appreciated. ps: i have two boys I would liike to see raise some cattle on it in the future, ( and their dad too) [/QUOTE]
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