I really wish my wife and I could purchase some land for my boys to grow up with. Problem is that saving 20% is dang near impossible for us. May take years to do that. And I make good money. When we bought our house I was able to get in it on a 15 year note at 0% down. My credit score is in the High 700s. Has anyone ever heard of anyone getting a loan at 0% down?

most banks won't touch it, but not sure exactly of what requirements they have to go by.

I have seen owner financed places for 10 percent down. I talked to a few local banks that will do 15 percent down. If you qualify for Texas vets they have a low down plan. Good luck.

Did you ever get any feedback? Several people on here used that avenue including myself. I bought 11 acres this year smack in the middle of 1000 wooded acres. Got a 30 year fixed with 7% down and 7% interest. Life is good, as I have many critters that funnel through my property. Hope you had some good luck. the process seemed long to me but not much longer then buying my house. either way a good deal.

Chief
Is that a bobcat or lynx pic?
We use to see both on our East Texas land but mostly fox now.

I've been looking too..thinking about a property that is nothing but swamp, but it will do exactly what I am wanting and that is a waterfowl property......I've been looking at it for about a year. It has $27k in harvestable timber and if I can buy it, I was thinking about putting it in some sort of conservation program as well and it is big enough that I could probably lease part of it out to guides and waterfowl hunters.. I can do almost any down payment but I'd like to at least have a 20 year note. Also, my wife and I are talking about buying a foreclosed home in the town my son is attending college as well to help out on expenses of college. We plan to buy something 3/2 or better bed/bath, and put him in one bedroom and rent the other two or more out to other students, basically paying for his housing and maybe even make a little profit. If this works out we will buy more houses to rent to students by the bedroom..... The catch 22 to the whole thing is I need for one property purchase to facilitate the other. In other words I'd like to walk away from closing on one deal with enough money to pull off the other purchase. It's a long shot I figure but if I have to choose between the two purchases I'll go with the house first. I figure that will eventually create an opportunity to buy a recreational property if we keep at it.

What kind of financing is being done on higher priced farm or ranch lands, say in excess of $450,000. The tpical 20% DP is a hefty figure, as well as conventional mortgages of 25-30 years. Are "balloon notes" still being done on the higher priced properties?

The smaller 300 to 500 acres farm/ranch at $1000 to $1500 per acre are fairly common, but who is doing fincancing for these type places?

these guys can probably answer all your questions:

http://www.capitalfarmcredit.com/

Thanks, I'll give them a call too. They are just up the road from Texas Land Bank here in Waco.

Okay, ya'll...I'm sure you've had this question already, but I'm really really curious. I'm currently Active Duty Army and am here in Afghanistan. I've really thought about buying a tract of land to go hunting on and also to someday pass on to my daughter.

The issue is that I don't have a huge nestegg to pay a 20 or 10 percent down payment. Does anyone know of any programs out there that will allow me to buy for 0% down or somewhere close to that? I've bought a house with VA help, but it seems the land situation is quite a bit difficult. Thanks for any info anyone can provide.

Art

Art: Check out the Texas Veterans Land board. they provide low interest loans to vets for buying land, and only require 5% down.

http://www.glo.texas.gov/vlb/index.html

Thanks for your service, and Godspeed.

Thanks JJH. I appreciate the info!

I sell land for hunting as aprofession. i wont try to push anything on anyone but if youd like my number ask me and i will give it to you. The Texas Vet Loan has a current down 5% but is a layered loan. The first 20k is at a low rate. The next layers are also 20K until you reach a max of 80k and they are at market rate. There are banks depending on where you buy that require less than 20% down but its usually no less than 15%. 20% down is the standard. The few exceptions are owner financed property.
Hope that helps.

Yes this sounds about like the best deal available. I am also lookin gfor property at the moment and am using Tx ag loans. They have different regional offices all over the state. They also pay Dividends on there loans. about 7 to 7.7 for 20 years with 20% down is normal. Cant get out of the down payment unless you are buying ADJOYING land. If this is the cae you can put up your own property as a down payment. The shorter the term loan 5 yrs 7 yr 10 yr. The better the interest rate.

I see a lot of people on here looking for property. I want to know if people are being realistic in the fact that a monthly payment of this size is very large. Dont get in over your head and put a strain on yourself and your family.

yes buying land is for those in the position to do so and to have an investment that pays off down the road. Leasing is much less expensive and thats the thing stay within budget as you said

There are new loan programs out there. I own a company that sells ranches. If you have any other questions feel free to email me at justin@texasselectproperty.com Be happy to help. Just sold a ranch in Freer with 10 percent down

I own a company that sells ranches. There are new programs out there. Just sold a ranch in Freer with 10 percent down. If you have any other questions feel free to email me justin@texasselectproperty.com
Be happy to help

Check with a company Called Farm Credit Services. I have a land loan with them for 20yrs at 5.8% Closed this loan last yr and had to put 20% down. I am not sure what they have in TX as our land was in IL.

Selling land it what my company specializes in and most of this thread is very true. Both Texas land bank and capital farm pay dividends. Both are going to require 20% down but the rates can vary depending on how you structure the loan. I can tell you that it is getting much harder to purchase land than a home. But there are other options available, like splitting between owner financing and a bank loan. I would suggest to anyone that they take every possible tax exemption they can and make sure to check out what exemptions the property has before purchasing it. Some exemptions around here can take records from up to five years to get the exemptions. If you have any questions about purchasing land feel free to PM me or give me a call. Im never to busy to talk to a fellow hunter!! Trey 254-715-5671

Lots of good info above,I also am a realtor that specializes in land transactions.One thing I will say is just because you have endangered species on your land DOES NOT mean you can't hunt it.We own 3 places in hill country and 1 in North central Texas and all of them are considered Golden-cheeked warbler habitat,no problem at all.

Don't shoot Golden-cheeked warblers or black capped vireo's and you'll be fine.

Call Bobby Priestly in Lcokhart Tx at first lockhart national bank. He got me a very nice deal on a ranch loan.

I didn't know about the Wildlife exemption when my Ag exemption went away. Can anyone recommend a company to get the process started for Wildlife Exemption?
I called one and they wanted $5,000.00 in attoreny fees alone!

Thanks
Robert

Correct Erathkid, but there are instances of land owners being limited in the use of their land due to the presence of endangered species. Habitat conducive to an endangered species is not the criteria. Presence of the endangered species is. For instance, I looked at a piece of property in Somervell county that did not have black cap virios (sp?) on it but did have that certain tree that they nest, live and exist off of. While there were no current restrictions to using that property, if they were discovered to be present, it could have prohibited me from doing any activty that would harm or harass them, including firing a weapon. I'm not saying you should not purchase land that has habitat conducive to an endangered species but it should be considered.