Looking for best financing options for recreational land loans?

15 acres of bare land. All riverfront property. Rural Arkansas Ozarks, yet known resort type area. I feel like the local bank that has agreed to lend without the appraisal is a bad deal and closing is coming up. We verbally agreed to 3 yr ballon with 10 year Amt. I don't know how to shop for a land loan in today's market place. Credit great. 20% down, no prob. ? How do I shop around for a loan without hurting my credit just by asking?

Lenders who specialize in land loans, or are members of the Farm Credit System, often have better deals than run-of-the-mill banks. See one of each in the following links. Good luck.

there are also options which allow you to leverage your primary residence. That would give you a better interest rate.

log onto

pncmortgagepro.com

or email me at frank.norris@pncmortgage.com http://answers.yahoo.com/question/accuse_write?qid=20070921203444AAA7j03&kid=HI5TC03gCE76YKwU9AJz&s=comm&date=2007-09-23+18%3A20%3A11&.crumb=

Bank of America hands down has the best land loans I have seen. The down payments are low and the rates are fairly good. I have been selling vacant land for several years and the easiest and cleanest deals are when the client uses BOA! I doubt that you will need to use your entire 20% on a land loan at BOA. I have seen them do 5% down on $175,000 land deal.

Call Countrywide.Good luck

YOU SHOULD CONTACT OTHER LENDERS IN YOUR AREA FIND THE LOWEST INTEREST RATE AND TAKE OUT A LOAN FOR THE PRINCIPAL ONLY AND MAKE YOUR PAYMENTS ON TIME IM SURE BANKS IN YOUR AREA WILL BE GLAD TO HELP. www.freewebs.com/rrland LOWERCASE