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In general, are lenders willing to offer mortgages on raw land if that land is waterfront?

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October 01 - Henderson
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Mornin Clay and 4 PINK in NY,

As Clay answered, it is not that lenders will not lend, but how much and which lenders are tehy.  I do not have a national residential in my group that offers raw land lending. In most cases, it is a local lender in scope and most would want and hope (mostly require) building in the not too distant future.  SunTrust used to have a program and did not require a large down payment, but there were restrictions to it and it had a balloon rider on the loan as well. Try local and I think you will find your best and clearest answer.
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Waterfront, as in ocean, lake, pond, what? Land loans are typically 50% LTV, Lot Loans with improvements have a higher LTV but will want to see your plans to build within 2-3 years. How many acres and your estimate per acre?
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October 01
 

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