03-27-2009, 09:06 AM
Vacant land financing is hard because it is too easy for people to walk away (and may do) leaving the bank holding the bag. Still 60-70% seems high even for the most conservative lenders - however times have changes so maybe this is the norm now. There are also generally requirements that the land have certain improvements and that it be built on within a certain period of time. I hope they have good luck!
-Blake
http://www.theboysgreatescape.blogspot.com/
-Blake
http://www.theboysgreatescape.blogspot.com/