Personal lending guide
Buying land is a different decision from buying a completed home. Before making an offer, understand the property, the work it may require, and the full cost of carrying it while you decide what comes next.
Gather the parcel address or legal description, acreage, current survey, access details, zoning information, utility availability, and any inspection or environmental reports. If the lot is part of a larger development, review the applicable covenants and association documents.
Clarify your intended use and timeline. A parcel for a future primary residence may raise different questions from land held for investment or recreation. Do not assume that a lot is buildable simply because nearby parcels have homes.
Ask whether financing for this property type is currently available, what information is needed to evaluate the parcel, and how down payment, collateral, repayment schedule, rates, fees, and maturity are determined. Ask how the lender treats a later construction loan and whether approval for land financing guarantees future construction financing. It does not unless the written terms expressly say so.
Availability, eligibility, rates, fees, and terms depend on current underwriting and written disclosures. Review current documents before committing to a purchase.
