08-16-2011, 11:53 AM
There are a few places to get loans (two Hawaiian credit unions to be specific) on unimproved land. They require 60% down and the interest rate is about 8% and the loan is secured by the land. Alternatively you can get a unsecured loan from a credit union for about 11% with no down payment required. And since the loan isn't secured by the land they can't take it if you fall on horrible times (any asset including land is fair game for a debt collector, but they typicalliy don't have much luck with something like this, especially if you are married owning the land and the debt is in one person's name).