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Payne5
I have a 20 acre parcel valued at $1,000,000 in Big Sky Montana. The property is zoned for 1 home and guest house with 5 bedrooms. Balance on loan is 619,000. I put $265,000 down on property. My credit score is aroung 790 last time I checked. Would like to get an interest only loan amortized over 30 years or any other terms that would keep my payments at a minimum. A fixed rate would be desireable. Does anyone know who I should contact.


Thanks
zachj
QUOTE(Payne5 @ Sep 14 2006, 06:30 PM) *

I have a 20 acre parcel valued at $1,000,000 in Big Sky Montana. The property is zoned for 1 home and guest house with 5 bedrooms. Balance on loan is 619,000. I put $265,000 down on property. My credit score is aroung 790 last time I checked. Would like to get an interest only loan amortized over 30 years or any other terms that would keep my payments at a minimum. A fixed rate would be desireable. Does anyone know who I should contact.
Thanks



Geeze you're already at about 62%ltv, 65% is the highest you can get on raw land.

Although, with 2 signers over 700 fico and net worth of 2mil each you can get to 75%ltv with a hedge fund. 3signers 100%
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