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fab44evr

06:07PM | 06/12/05
Member Since: 06/11/05
1 lifetime posts
Bvrealestate
I am looking to purchase a salt water canal lot in Palm Coast Fl. but know nothing in regard to how loans are handled for lots. What is a good interest rate? Is there a such loan as an Option ARM?

Thanks for any input.

lender64

06:46AM | 05/30/06
Member Since: 05/29/06
2 lifetime posts
Lot loan rates are higher than the average home mortgage rate. They are also short term loans, usually 2 to 5 years. There are no option arms but 2 years fixed and 12mat ARM and 6 month Libor ARMs. The rates are between the high 7's and 9's.

If you would like to know more.

888 610-7111

www.southwestmortgagelending.com
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