Lot loans/ Walton County

[beachvacation]

My wife and I are considering purchasing a residential lot on 30A, to ideally hold and build in the future. Who are the best contacts in the area who provide land loans for residential lots...I realize some of the traditional sources are hesistant to finance residential lots at this point. Thanks.

 

[Scooter]

I guess there are no answers here. I am looking to refinance my lot loan so if you find a good lender, let me know. Thanks!

 

[GreenWaveDave]

I guess there are no answers here. I am looking to refinance my lot loan so if you find a good lender, let me know. Thanks!

Likewise. I need to either extend the term on my existing lot loan or find a good refi option come middle of next year. Have every intention of paying it off and have paid substantial principal, just need about 2 more years to do it.

Current loan is with Wachovia and they won't even talk to me until 4 months prior to the balloon date.

I know lending is tight right now, but there's gotta be someone out there who will lend on a lot (especially at a very low LTV).

Anyone?

 

[Franny]

Contact Jason Crowe with Community Bank in Destin. 850-650-4231. I don't know if this information is up to date, but they were financing lot loans up to $500,000 and LTV up to 75%. Refinancing will be considered.

Francesca Gage
The Beach Group

 

[Scooter]

Thanks, Franny!!!

 

[Franny]