- Find a Real Estate Professional
- Realtors®
- Mortgage Lenders
- Home Improvement Pros
- Other Real Estate Services
- Review an Agent, Lender or Pro
- Marketing on Zillow
- Real Estate Agent Advertising
- Join the Professional Directory
- Popular
- Real Estate Market Reports
- More
Answers (7)
Best Answer
- Norrey Acasio, "BigIslandProperties"
- Contributions:62
Rudi,
You are right, I am just an Agent who specializes in Real Estate. The comment/answer I provided for "Signalfire" is based on my experience here on the Big Island of Hawaii. Most Local lenders will estimate anywhere from a minium of 20-25% down, all depending (of course) on qualifications. I can provide numbers of local Lender's where this might be available.
Also, looking at the questioner's location...I felt my comment would apply more to him/her since I am located in Hawaii and know of the Honoka'a area. Therefore my generalized answer might apply to him/her. I am here just to provide some insight on financing options available to Buyers in our area. I can gather more details if you'd like!
Aloha!
Norrey
You are right, I am just an Agent who specializes in Real Estate. The comment/answer I provided for "Signalfire" is based on my experience here on the Big Island of Hawaii. Most Local lenders will estimate anywhere from a minium of 20-25% down, all depending (of course) on qualifications. I can provide numbers of local Lender's where this might be available.
Also, looking at the questioner's location...I felt my comment would apply more to him/her since I am located in Hawaii and know of the Honoka'a area. Therefore my generalized answer might apply to him/her. I am here just to provide some insight on financing options available to Buyers in our area. I can gather more details if you'd like!
Aloha!
Norrey
- signalfire
- Contributions:8
Thanks for your responses, everyone. I'm indeed looking for info that is specific to Hawaii. Since I'm stuck in the (now) frozen Pacific NW, I'm looking forward to some of that aloha :)
Signalfire
Signalfire
- Rudi Hofmann, "LUXURY HOME LOANS CA"
- Contributions:7435
Mahalo Norrey for being so gracious. I apologize for my remark. Instead of you, I should have been the one not to have answered this question.
Aloha, Rudi
Aloha, Rudi
- Steve Felty, "SteveFelty"
- Contributions:396
20% down for lots loans is indeed possible. I can't speak for the entire country, but I can for the states in which we offer lot loans.
- Rudi Hofmann, "LUXURY HOME LOANS CA"
- Contributions:7435
Norrey,
By your response my feeling is you should stay with answering questions about real estate, not financing. If I may be wrong, please document by a link where one can acquire land/lots with only 20% down.
Happy funding, Rudi
By your response my feeling is you should stay with answering questions about real estate, not financing. If I may be wrong, please document by a link where one can acquire land/lots with only 20% down.
Happy funding, Rudi
- Norrey Acasio, "BigIslandProperties"
- Contributions:62
Yes, but you will need at the very least 20% to put down on the property. Depending on where and how much the price of the lot is...it can all vary.
Also, keep in mind that there are Construction loans available so you might be able to get a good "package" deal if you're ready to build now. Lastly, there are some Sellers who are willing to do Seller Financing as an option.
Also, keep in mind that there are Construction loans available so you might be able to get a good "package" deal if you're ready to build now. Lastly, there are some Sellers who are willing to do Seller Financing as an option.
- Rudi Hofmann, "LUXURY HOME LOANS CA"
- Contributions:7435
Lenders will usually lend about 50% on land and up to 70% on city lots.
Aloha,
Rudi
Aloha,
Rudi
Can I get a loan to buy land to build on? Just want to buy one small building lot, will build later.
Stating a discriminatory preference in an advertisement for housing is illegal. If you think this content is discriminatory or otherwise inappropriate and feel it should be removed from Zillow, please let us know by completing the information above.
We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.