sIn our weekly meeting at Tomlinson Sotheby's International Realty, Merry Brown-Hayes, Associate Broker, just related a meeting she had with US Bank yesterday. Land loans have been very difficult to get lately.
Certainly, in our resort area, we have seen a lot of owner-carry and cash buys.
US Bank is offering land loans for the following criteria:
Must be zoned Suburban or Recreational, in other words Residential.
Must have a credit score of 720 or higher.
20% Down.
There are certainly other hurdles borrowers must jump, and this information is not verified, but anecdotally, this is very good news.
Stay tuned for more updates.
Gary Lirette, featured in Where To Retire magazine and host of the Tuesday noon local radio shows: North Idaho Business as well as North Idaho Arts.
E-mail Gary or call 208-610-1384
Read Gary's Blogs
Tomlinson Sandpoint Sotheby's International Realty
200 Main Street
Sandpoint, Idaho
208-255-3474
www.SandpointID.net - To learn all about Sandpoint and North Idaho
www.RealtySandpoint.com - For Sandpoint Realty
www.SkiSchweitzer.net - To visit Schweitzer Mountain's Community Web
Comments(1)