How to buy land with financing is a question often asked from buyers that are looking to buy Missouri land. Buying land can seem a little more challenging in terms of land financing options. Depending on the land use can determine what financing is best. Purchasing land for different uses will have different land loans and financing programs and options, for example, recreational land and farmland will have different loan options. We suggest researching and comparing options from different lenders. By researching multiple programs and lenders, buyers are often able to find the best options available for their circumstances. For land loans, check with local lenders, niche market leaders, state and federal loan programs and offers as well as the contract for deed options.
Land Financing with Local Lenders
Local Lenders – Rural land loans might be easier to obtain within your local area, at local rural banks and credit unions.
Land Financing with Niche Market Lenders
State and Federal Land Loan Programs
Check for Federal and State Loan Programs for Land Purchasing – View Missouri Beginning Farmer Loans. Learn about Farm Residence Loans for Veterans. View Farm Service Agency Farm Ownership Loans and USDA Farm Loans Programs
Contract for Deed Financing
Owner Financing – Land is sometimes available to purchase with owner financing known as Contract for Deed. We suggest contacting your attorney regarding any contract for deed contracts prior to moving forward.
Disclaimer: Links above are provided for informational purchases only for those wanting to learn about resources for how to buy land and how to finance land. To clarify, links are not provided as recommendations or endorsements but rather for informational purposes.
Firstly, we suggest building a list of possible lenders and financing options. Secondly, after building a list, compare programs, evaluate rates, and offers, moreover, thoroughly evaluate with comparison and contrast. Thirdly, evaluate the needs of the program requirements to examine options for down payments or collateral needed. Certainly and very important, when considering a contract for deed option, speak with your attorney regarding the contract. In summary, make a list of programs, lenders, rates, options, needs. Then compare and contrast options to find the best options for your situation.
If you are looking to sell or buy and need assistance, please reach out to us at Sales@MissouriRealEstateSales.com