Anybody know how much you have to put down on raw land?

Hello my husband and I live in PA and are currently looking into purchasing vacant land to build our own home on in about 2 years. We would like to buy land now and make payments on it for 2 years before we build a house. We currently own a home. I have heard you have to put a certain percentage down but I can't seem to find any information on bank websites about land loans. Thanks!

what is the seller asking for?

there is no specific %

for many years(before the creative mortgage surge) one had to have 10% down for a home and their payments could not exceed 25% of their income

this might give you some guideline but you are not talking a residence

In recent times, about 30% is typical.

Ask a lender.

Could be 25% of sales price or higher in these hard-to-get-a-loan days.

Could even be 30% - 50%.

If the seller will finance it for you, could be ZERO. They might accept payments. This is the difference between institutionalized financing and seller financing. Good luck.