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#5435350 - 11/21/14 11:21 AM Anyone offer 0% to 5% down on land?
Smeb Offline

Registered: 11/25/13
Posts: 50
Loc: Helotes
Everywhere I see is 20% dn..

#5435802 - 11/21/14 04:07 PM Re: Anyone offer 0% to 5% down on land? [Re: Smeb]
newulmboy Offline

Registered: 03/20/12
Posts: 822
Loc: New Ulm, TX
20% is the norm.... I believe. I used a small local bank when I purchased raw land, and I only had to put down 15%.

#5455013 - 12/02/14 08:24 PM Re: Anyone offer 0% to 5% down on land? [Re: Smeb]
7ARanch Offline
Pro Tracker

Registered: 12/13/10
Posts: 1527
Loc: Tarrant/Jack, County
Yeah it was 20% on both my land purchases. The second one was with the same bank as the first land purchase and they still wanted the 20% so I think with a few noted exceptions that is what you will faced with.
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#5455304 - 12/02/14 10:50 PM Re: Anyone offer 0% to 5% down on land? [Re: Smeb]
TX Hitman Offline
Bird Dog

Registered: 10/12/11
Posts: 310
Loc: West Texas

Both of my purchases required 20% down at Capital Farm. Interest rates are up from last year but they lowered to last years rate, same rate as my last purchase.

If you are a veteran you can get a lower down payment. However, I think there is a cap on the total purchase price.

Here is something to check into. My buddy financed everything under his wifes name. Then they qualified for some exemption similar to a HUB status. Said they got to put less down and a better interest rate. They also financed their cows this way as well. They are using a small local bank for their financing.

Also, be sure to budget about $5000 over the 20% to cover finance fees etc.

#5455537 - 12/03/14 07:53 AM Re: Anyone offer 0% to 5% down on land? [Re: Smeb]
dgilbert Offline
6 pack abs

Registered: 09/04/04
Posts: 19099
That's the norm, has been for as long as I can remember, it think VA loan might be less.

#5457886 - 12/04/14 01:17 PM Re: Anyone offer 0% to 5% down on land? [Re: Smeb]
Parttime Offline
Bird Dog

Registered: 12/07/10
Posts: 420
Loc: San Antonio, Texas
If you qualify for the Texas Veterans Land loan, it is 5% down.
Parttime (John)
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#5481201 - 12/16/14 12:57 PM Re: Anyone offer 0% to 5% down on land? [Re: Smeb]
Erich Offline

Registered: 11/11/04
Posts: 753
Loc: Cibolo, TX
all the farm credit operations will require 20%. the farm credit operations are about the only ones who will offer financing terms beyond 20yrs.

most regular banks will not go beyond 15yrs, some will stretch to 20, all will like to have 20% down, but if you've got good credit and good history with the bank you can maybe get the deal done for 10%. it'll cost you some on the interest rate though.


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