Financing Options for Purchasing Land for Sale in Oregon

Purchasing land in Oregon can be an exciting investment, whether you're looking for a rural retreat, a future home site, or a business opportunity. However, financing land differs from securing a traditional mortgage, as lenders consider raw land riskier. Here’s a guide to financing options for those interested in Oregon land for sale . 1. Traditional Land Loans Banks and credit unions offer land loans specifically for purchasing vacant land. These loans typically require: A higher down payment (20%-50%) compared to home loans. Shorter loan terms (10-15 years) with slightly higher interest rates. A strong credit score and a well-outlined plan for the land's use. 2. Owner Financing If you’re struggling to secure a loan from a bank, owner financing might be an option. In this arrangement, the seller provides financing, often with flexible terms, bypassing traditional lenders. This is especially common when purchasing rural land for sale in Oregon , where banks may be hesitant ...