Florida Lot Loans

Five Stars Mortgage provides residential lot loans through our network of private and conforming lot loan sources. Lot loans can be difficult to financing making it very important as a buyer to deal with a mortgage company that has the capacity to facilitate a Florida lot loan quickly and easily.

There are many reasons buyers chose to buy the lot for their home and then build upon it rather than buying an existing home with the land included. One advantage is that by acquiring the residential lot only one can see appreciation on their investment prior to even breaking ground on their new home construction. Buying a residential lot by itself will often allow the buyer to pick up the property at a large discount, which provides instant equity for the buyer. Some buyers utilize this equity when obtaining their construction financing whether it's for a spec home or their primary residence. It all begins with acquiring the residential lot to build upon!

Florida Residential Lot Loans:

• Acquire lot with only 10% down
• Lot loans up to $2M
• Significant rate reduction with 25% or greater down payment
• Rates based upon credit strength
• Stated income available
• No Doc loans with greater down payment investment
• Lot loans available for all zoning (residential, commercial, agricultural)
• Hard Money lot loans available

It is important that the buyer of the residential lot understands that they may be responsible for developing the land with proper utilities, roads, and other factors that require city or county approval. Make sure that you consult with professionals so that you are fully aware of any additional costs that acquiring a residential lot may incur.

In recent years many banks have begun to pull back from offering financing on lot loans in Florida. Five Stars Mortgage is here to assist you in acquiring or refinancing your florida lot loan with minimal hassle and the least amount of red tape!

MORTGAGE PROGRAMS