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re: Financing for raw land
Posted on 5/6/23 at 9:13 pm to deltafarmer
Posted on 5/6/23 at 9:13 pm to deltafarmer
What kind of terms were they offering?(Prudential)
Posted on 5/7/23 at 4:57 am to BillWilliamson
They were very flexible relative to the other lenders I worked with. Financing out to 40 years, payments structured to my needs, interest only if I was buying to flip the property (I wasn't) plus they asked for what they needed document wise up front and asked for very little else. The others kept asking for other things. It got very tedious. Eventually I took a loan with 40 year amortization with interest fixed at 4.7% for 7 years. This was done back in August of 2022. Interest will be much higher now I'm sure. They made it very easy.
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