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Preferred Lender For Land Loan?
Posted on 1/11/23 at 8:21 am
Posted on 1/11/23 at 8:21 am
I am looking to buy a few acres of land around the St. Francisville area and I am quickly learning that land loans and residential loans are completely different. Does anyone have any experience getting preapproved or have a preferred lender in regards to land loans?
5
Posted on 1/11/23 at 8:25 am to SCUBAislander
Louisiana Land Bank
Posted on 1/11/23 at 8:32 am to SCUBAislander
I second the Louisiana Land Bank.
They even give you a little back at the end of the year in the form of a patronage payment. Good people to deal with.
They even give you a little back at the end of the year in the form of a patronage payment. Good people to deal with.
Posted on 1/11/23 at 8:33 am to SCUBAislander
Call Guaranty Bank in Port Allen, they had good rates when I was looking. Depending on the size of property, they might be a better option. Louisiana Land Bank is good too.
Posted on 1/11/23 at 8:53 am to SCUBAislander
Louisiana Land Bank, or First South Farm Credit will lock the lowest rates for the longest terms......generally.
Local banks OR banks you have a relationship with might lock a good rate for a shorter time and be MUCH quicker to close the deal.
Personally, if I'm looking to buy as an investment, I buy through my local bank, and then can roll to Land Bank or First South later on my time if its not sold.
Local banks OR banks you have a relationship with might lock a good rate for a shorter time and be MUCH quicker to close the deal.
Personally, if I'm looking to buy as an investment, I buy through my local bank, and then can roll to Land Bank or First South later on my time if its not sold.
Posted on 1/11/23 at 10:20 am to Huntinguy
I like Southern Ag Credit
Posted on 1/11/23 at 11:21 am to Lugnut
i used southern Ag, and recommended 5 others all good experience
Posted on 1/11/23 at 11:31 am to Huntinguy
Ashley McDaniel with First South Farm Credit , and you will not be dissapointed, she knows her stuff and make the process as easy as possible, they offered best terms and rates as well when I was purchasing
Posted on 1/11/23 at 11:53 am to SCUBAislander
I used community first in Lafayette. They were very easy to work with.
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