I'm looking to get a loan to buy a land investment but i'm looking for a good place to get

I have a Credit Union Bank, but their intrest rates are aprx. 11% and that seems a little high... I%26#039;m trying to figure out how to go about investing into some real estate, but have no investors nor do i have the money to put down on the spot.

Does anyone know of a place or anyone that would be willing to SERIOUSLY invest??? Or maybe how to go about all this... Cause i%26#039;m at a complete loss...

I%26#039;m looking to get a loan to buy a land investment but i%26#039;m looking for a good place to get one, or some.....signature loan

Financing questions are a little hard without knowing your debt to income ratios and credit scores and work history,ect,ect,ect.

That being said heres some tips.

First of all 11% is a high risk number ,

Second: investment property espacially raw land is a difficult loan if you do not have credit or a large amount of capital to lower your loan to value or LTV.

look for residential properties to start your business adventure. if you have good credit you can get a 100% loan . still have closing cost but with sellers concesion you can get those paid for you. up to 6 % of the sales price.

if your credit is lacking and you do not know someone you trust that does have good credit. Try looking for seller financing or wrap around motgages. in effect the seller becomes the bank for all or 20 percent .

The lender will take a lower risk loan lets say 70 or 80% . if you have any ability to pay back the loan.

Remember most lenders only will only give you 75 % of the rent. this is to offset vacancies. so calculate your possible rent(s) to see if they will cover the mortgage at that 75% rate. That is how the lender will typically adjust your debt to income ratio.

The scenario is if you cannot make the property pay its full mortgage while you speculate the market, then any overage in payments to the lender must be offset by equitable gains in the R/E market.

simply said if you lose 1 percent in payments the market must out pace 1% for it to be a viable investment tool. However the nature of speculating can make huge gains with some markets in the south projected at 15%

hope that helps email me at my website www.theratestoday.com if I help.