Home loan for purchasing land and constructing house?

I need to know whether any bank would give loans for purchasing land and constructing a house on that land together.

If yes how much will be the amount and what is the procedure?

You will be better off purchasing the land first in cash, and then have a large amount for downpayment on the construction. You will qualify for a construction loan which is a mortgage...but...you receive the monies as the builder requires. It is held in trust with a lawyer..usually 3 or 4 payments from start to finish. You can get a mortgage for the whole thing, but you will need a large amount for downpayment...just go to your bank and ask..they will give you all the details you need to get started and the directions you need to go. It may not be so difficult where you are, but banks here do not like to give out money for bare land..even if you want to build on it...I think they have had too many problems in the past.

The would only grant a percentage of the value of the building and land combined. They normally require the borrower to have a substantial downpayment (usually the value of the land) and then they only release the money on the building as work progresses to minimise their risk

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With today's economy you better have good credit #'s. Then go to the bank you use . Start there first.

How did states and the federal govt encourage business expansion through tariffs, banking, land grants, etc?

Please help .

Tariff- make it more expensive for foreign companies to cmpete

Banking - make cost of capital cheaper

Land grants- provide subsidies on land

Can I put a house on land not deeded to me?

My parents are letting us put a double wide on their land. With the stipulation that (heaven forbid) if we loose the house, the land stays put. It doesn't go with the house. If they deed us the land and the bank has to take the house, the bank would get the land too. We dont want that to happen. How does that work and is it even possible?

Lease the land from your parents to accomplish this. But note that it will be VERY, VERY, VERY difficult to ever sell that doublewide on a mortgage loan someday.

Construction on leased land is common. There's no law that requires a homeowner to own the land upon which the house is built.

as long as you don't finance your land with the bank, you should be fine.

Sure, but you'll be paying out the wazoo in interest without land to secure the trailer.

You cannot use the land as collateral without risking losing it. That is why they call it "collateral".

There isn't any way around it...either you pay a high interest rate to buy the trailer or your parents have to give you the land to use as collateral.

There is no "option C".

The bank will NOT get the land if they take back your double wide. The double wide is the ONLY security for your loan.

I need loan for purchasing land in devolving area for reselling.can i get loan from bank or private finance?

loan for purchasing land for resell.

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presuming we are talking about the US; why not?

if you qualify

How can i use my land to commercial to make a building & give it to national bank. but i had no money.?

sir

My name is Ashish. And i m from nurpur (it is a small city in himachal pardesh).Sir i have a land which is main market in our city market. I use it as a commercial to make a building. and give this building to the any national bank as a monthly rent.But i have no such a money to make a building.Then but can i do for it ?

if the bank requires that place, then you can approach them and they will fund you for construction. the repayments will be from the proposed rentals.

Approach the Banks regional offices with details.

If your land is within city area,no NA permission is required,otherwise,get NA permission from DistrictCollector,prepare plan for building through Archetect and

get it sanction from Corporation/town planning department,approach any banker,along with no encumberance certificate from advocate and valuation done by Bank approved valuer,for loan,on sanction of loan

you can construct the building yourself or by contractors.And offer on rent to anybody.

make a contract with a reputed real estate developer on 50-50 percent basis.

The developer will make say 10 flats and he will give you 5 flats and rest he will sell to buyers at a profit.

this is the only way to make a building without investing any money or looking after the construction.

EDIT: you will have to give a "power of attorney" to the developer. Better to find a good lawyer among your relatives to give you legal advice

I be live the land is worth money so the bank should lend money to build. I have heard of that before being done.

I have 8 acres of raw land. How can I make money off of it, beside simply selling it?

My grandmother has 8 acres of raw land (1.5 acres on frontage on one of the main streets in our city) that is paid for 100%. Her house is now on the land, but the zoning is going from residential to commercial, with strip malls, gas stations, apartment complexes and more. There are three lone holdout houses right next to one another. We have tried to sell the property a few times but the price is always too low because either the neighbor won't sell, or someother mishap.

Since we carry no loan on the property, how can we develop it commercially and be able to get financing from a bank for doing so? Instead of selling it, we want to develop it into some sort of storefront, strip mall, or something. How can we secure the funding for this? I just heard in the same neighborhood that Starbucks pays $95,000 (and a profit %) per year for 20 years to the site owner - how can we score that?

lumber is very lucrative. if you have good forestation, consider contacting a lumber yard for harvesting some of the wood. they do all the work, and you get the check. get a couple offers and make sure to mark off what trees can go, and which will stay.

Contact Starbucks and see if they would be interested in the site.

mini golf course.

So you have 8 acres of commercial land I'm assuming. Financing shouldn't be a problem because you could use the property for collateral for a construction loan. You'll first need to go see a local civil engineer to develop a plan (this isn't free of course) to see what you can develop to maximize the site and abide by the local regulations. A leasable strip mall is always profitable no matter where it is, but you will need to advertise early so you can have some commitments to lease so you can as they say "Build to Suit". Another option would be to get a partner, one who already has money so you would be putting up the land and the other would be fronting the money, therefore you have no financial risk, but only gain, although now your gain would be less since you are splitting profits. Hope this is helpful.

Raw Land Loans are an agreement in which a lender (usually a bank) gives money to a business who is performing a Raw Land Development Project. The business agrees to repay the money with interest, at some future point in time. Raw Land Loans are very flexible and comes in a variety of terms to meet your specific needs. Money issued for Raw Land Loans are usually distributed in increments as the Raw Land Development Project meets certain milestones.

A qualified high volume/high traffic retail or foodservice operation can own and operate a Starbucks licensed store. Examples include: hotels and resorts, healthcare, college and university campus environments and business and industry. http://www.starbucks.com/business/leadSubmission.asp

Open up a bordello!

I have a friend who wants to start his own church and wants to buy land or an existing building for the church?

Someone advised him to start a 5013c or something to that affect as a Non-Profit. My question is he can afford to get the land or building with his own credit, but would he be entilted to Government Grants or special financing from banks in order to start a church? He is an ordained Minister by the way.

Just: I might be missing something here, but it seems like your friend is putting the cart before the horse, so to speak.

The idea is to build a congregation first, then as it grows comes the consideration for a larger meeting place.

Your friend's organization through which he was ordained should have the proper procedure for obtaining the legal 501(c)3 non-profit designation. If not, try your state's licensing division for help.

I know of no government grants or special financing from a bank being offered to non-profit church start-ups. One more bit of advice: tell him to watch it when it comes to the use of his personal credit card for church purchases. It's an easy trap to fall in to....and it's been the downfall of many. Enough said!

Best wishes, and I hope this helps you....

I hope not since the churchs pay nothing into the govt' programs. Banks may buy into this but he just needs to go to his local banks, sit down and ask the questions based on his personal financial situation at this point in time.