Purchase Your Dream Lot
GTE Financial offers a great product for home sites in Florida at or under 10 acres.Vacant Land Loans are Adjustable Rate Mortgages for the purchase of vacant land under 10 acres, to be used to build a single-family home on or a primary residential occupancy. With this ARM product, your Annual Percentage Rate will stay the same for the first 5 years of the loan versus changing every year. After 5 years, the rate will adjust annually, depending on the market. The term of the loan is 15 years and the maximum loan to value ratio (LTV) is 70%; the purchaser would need to put at least 30% down.