{"id":107,"date":"2011-06-17T17:16:55","date_gmt":"2011-06-17T17:16:55","guid":{"rendered":"http:\/\/riverbankfinance.com\/blog\/?p=107"},"modified":"2019-11-20T10:05:16","modified_gmt":"2019-11-20T15:05:16","slug":"land-loans-in-michigan","status":"publish","type":"post","link":"https:\/\/riverbankfinance.com\/blog\/land-loans-in-michigan\/","title":{"rendered":"Land Loans in Michigan"},"content":{"rendered":"\n<script><!--\t\t\t\t\t\t\t\nvar message = \"** Program  Temporarily Discontinued **\";\ndocument.write('<span style=\"color:red;font-size:14;font-weight:bold;\">' + message + '<\/span>');\n\/\/ -->\n<\/script>\n\n\n<p><a href=\"https:\/\/riverbankfinance.com\/blog\/wp-content\/uploads\/2011\/06\/michigan-land-loans.gif\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-108 alignleft\" title=\"michigan-land-loans\" src=\"https:\/\/riverbankfinance.com\/blog\/wp-content\/uploads\/2011\/06\/michigan-land-loans.gif\" alt=\"Requirements for Land Loans in Michigan\" width=\"200\" height=\"181\"><\/a>Michigan is well known for its amazing summers and beautiful winters. Whether you are a sport enthusiast interested in buying recreational land, a farmer looking for a <strong>farm land loan <\/strong>or a plan to build a new home and want to buy your home site land&nbsp;while property is cheap, you will need to know what the requirements are for a <strong>land loan in Michigan<\/strong>.<\/p>\n<p>These days there are not many lenders that offer <strong>land loans&nbsp;in Michigan<\/strong> because they are more risky than conventional mortgages for banks and lenders.&nbsp; Not as many people are buying land to build homes because fully built homes are selling at a discount due to high foreclosures in Michigan.&nbsp; If the bank has to foreclose on a land loan in Michigan then they may not be able to sell the property quickly like they can a stick built home.<\/p>\n<p>Most of the land loans done these days pool back to the same source of investors used by Riverbank Finance LLC.&nbsp;It is a co-op that requires that you become a member to get a land loan in Michigan.&nbsp; Even small local banks, and local lenders are not able to match the low <strong>interest rates for land loans<\/strong> that Riverbank offers.<\/p>\n<h2><a title=\"Types of Michigan Land Loans\" href=\"#\">Michigan Land Loan Types<\/a><\/h2>\n<p>Riverbank is an established mortgage lender in the state of Michigan and specializes in Michigan land loans. &nbsp;They offer <strong>Vacant Land loans<\/strong> for as little as 35% down with a 30 year fixed mortgage.&nbsp; Other land loan options include 15 year fixed, 3 year adjustable mortgage (ARM), 5 year ARM or even a 10 year ARM.<\/p>\n<p>Land Loan Types include:<\/p>\n<p><a title=\"Michigan Vacant Land Loans\" href=\"#\">Vacant Land Loans in Michigan<\/a><br>\n<a title=\"Michigan Farm Land Loans\" href=\"#\">Farm Land Loans in Michigan<\/a><br>\n<a title=\"Home Site loans in Michigan\" href=\"#\">Michigan Home site land Loans<\/a><br>\n<a title=\"Michigan Hunting Land Loans\" href=\"#\">Hunting Land Loans in Michigan<\/a><br>\n<a title=\"Agricultural Land Loans in Michigan\" href=\"#\">Agricultural Loan Loans in Michigan<\/a><\/p>\n<p>Other land loan types may be available upon request from a Riverbank loan officer.<\/p>\n<h2><a title=\"Michigan Land Loan Requirements\" href=\"#\">Michigan Land Loan Requirements<\/a><\/h2>\n<p>The requirements for land loans in Michigan are somewhat more difficult than a conventional mortgage.&nbsp; Our investors require that you have assets for your down payment, good credit scores and stable income.<\/p>\n<p><strong>Detailed Requirements:<\/strong><br>\nDebt to income ratios up to 41% of gross income<br>\n35% down payment or equity in the property<br>\n2 year employment history<br>\n680 Minimum Transunion Credit Score<br>\nNo Cash Out Refinancing<br>\nNo seller paid closing costs<br>\nYou may not financing in your closing costs<\/p>\n<p>If you want additional information on Land Loans in Michigan visit our <a href=\"http:\/\/riverbankfinance.com\/mortgage-programs\/michigan-land-loans.html\">Michigan Land Loan<\/a> page by clicking the link or call a Riverbank licensed loan officer at 1-800-555-2098.<\/p>\n<h2>Request Information or Apply Online<\/h2>\n\n<div class=\"wpcf7 no-js\" id=\"wpcf7-f185-o1\" lang=\"en-US\" dir=\"ltr\" data-wpcf7-id=\"185\">\n<div class=\"screen-reader-response\"><p role=\"status\" aria-live=\"polite\" aria-atomic=\"true\"><\/p> <ul><\/ul><\/div>\n<form action=\"\/blog\/wp-json\/wp\/v2\/posts\/107#wpcf7-f185-o1\" method=\"post\" class=\"wpcf7-form init\" aria-label=\"Contact form\" novalidate=\"novalidate\" data-status=\"init\">\n<fieldset class=\"hidden-fields-container\"><input type=\"hidden\" name=\"_wpcf7\" value=\"185\" \/><input type=\"hidden\" name=\"_wpcf7_version\" value=\"6.1.5\" \/><input type=\"hidden\" name=\"_wpcf7_locale\" value=\"en_US\" \/><input type=\"hidden\" name=\"_wpcf7_unit_tag\" value=\"wpcf7-f185-o1\" \/><input type=\"hidden\" name=\"_wpcf7_container_post\" value=\"0\" \/><input type=\"hidden\" name=\"_wpcf7_posted_data_hash\" value=\"\" \/><input type=\"hidden\" name=\"_wpcf7_recaptcha_response\" value=\"\" \/>\n<\/fieldset>\n<div class=\"ApplyFullHeader\" id=\"apply_form\">\n\t<p class=\"replaceheader\">Request Information Now!\n\t<\/p>\n<\/div>\n<div class=\"blueBox\">\n\t<p><span class=\"wpcf7-form-control-wrap\" data-name=\"your-name\"><input size=\"40\" maxlength=\"400\" class=\"wpcf7-form-control wpcf7-text wpcf7-validates-as-required\" aria-required=\"true\" aria-invalid=\"false\" placeholder=\"Your Name (required)\" value=\"\" type=\"text\" name=\"your-name\" \/><\/span>\n\t<\/p>\n\t<p><span class=\"wpcf7-form-control-wrap\" data-name=\"your-email\"><input size=\"40\" maxlength=\"400\" class=\"wpcf7-form-control wpcf7-email wpcf7-validates-as-required wpcf7-text wpcf7-validates-as-email\" aria-required=\"true\" aria-invalid=\"false\" placeholder=\"Your Email (required)\" value=\"\" type=\"email\" name=\"your-email\" \/><\/span>\n\t<\/p>\n\t<p><span class=\"wpcf7-form-control-wrap\" data-name=\"your-phone\"><input size=\"40\" maxlength=\"400\" class=\"wpcf7-form-control wpcf7-text wpcf7-validates-as-required\" aria-required=\"true\" aria-invalid=\"false\" placeholder=\"Phone:\" value=\"\" type=\"text\" name=\"your-phone\" \/><\/span>\n\t<\/p>\n\t<p><span class=\"wpcf7-form-control-wrap\" data-name=\"your-goal\"><select class=\"wpcf7-form-control wpcf7-select\" aria-invalid=\"false\" name=\"your-goal\"><option value=\"Purchase\">Purchase<\/option><option value=\"Refinance\">Refinance<\/option><option value=\"Cash Out\">Cash Out<\/option><option value=\"More Information\">More Information<\/option><\/select><\/span>\n\t<\/p>\n\t<p><span class=\"wpcf7-form-control-wrap\" data-name=\"your-message\"><textarea cols=\"40\" rows=\"10\" maxlength=\"2000\" class=\"wpcf7-form-control wpcf7-textarea\" aria-invalid=\"false\" placeholder=\"Your Message:\" name=\"your-message\"><\/textarea><\/span>\n\t<\/p>\n\t<p><span class=\"wpcf7-form-control-wrap\" data-name=\"referer-page\"><input size=\"40\" maxlength=\"400\" class=\"wpcf7-form-control wpcf7-text referer-page\" aria-invalid=\"false\" value=\"\" type=\"text\" name=\"referer-page\" \/><\/span><br \/>\n\t\n\t<\/p>\n\t<p><input class=\"wpcf7-form-control wpcf7-submit has-spinner submit\" type=\"submit\" value=\"Submit Now!\" \/>\n\t<\/p>\n<\/div>\n<div style=\"text-align: justify; color:#666666;font-size: small;\">\n\t<p>By clicking \"Submit Now!\", you consent to receive calls and texts at the number you provided, including marketing by autodialer and prerecorded and artificial voice, and email, from Riverbank Finance LLC about your inquiry and other home-related matters, but not as a condition of any purchase; this applies regardless of whether you check, or leave un-checked, any box above. You also agree to our Privacy Policy and Terms of Use regarding the information relating to you. Msg\/data rates may apply. This consent applies even if you are on a corporate, state or national Do Not Call list. This no obligation inquiry does not constitute a mortgage application. To apply now or get immediate assistance, call us at 1-800-555-2098.\n\t<\/p>\n<\/div><p style=\"display: none !important;\" class=\"akismet-fields-container\" data-prefix=\"_wpcf7_ak_\"><label>&#916;<textarea name=\"_wpcf7_ak_hp_textarea\" cols=\"45\" rows=\"8\" maxlength=\"100\"><\/textarea><\/label><input type=\"hidden\" id=\"ak_js_1\" name=\"_wpcf7_ak_js\" value=\"135\"\/><script type=\"text\/javascript\">\n\/* <![CDATA[ *\/\ndocument.getElementById( \"ak_js_1\" ).setAttribute( \"value\", ( new Date() ).getTime() );\n\/* ]]> *\/\n<\/script>\n<\/p><div class=\"wpcf7-response-output\" aria-hidden=\"true\"><\/div>\n<\/form>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Michigan is well known for its amazing summers and beautiful winters. Whether you are a sport enthusiast interested in buying recreational land, a farmer looking for a farm land loan or a plan to build a new home and want to buy your home site land&nbsp;while property is cheap, you will need to know what<a class=\"excerpt-read-more\" href=\"https:\/\/riverbankfinance.com\/blog\/land-loans-in-michigan\/\" title=\"ReadLand Loans in Michigan\">&#8230; Read more &raquo;<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,309],"tags":[44,43,42,36],"class_list":["post-107","post","type-post","status-publish","format-standard","hentry","category-local-michigan","category-michigan-land-loans-2","tag-farm-land-loans","tag-michigan-land-loan-lender","tag-michigan-land-loans","tag-vacant-land-loans"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/riverbankfinance.com\/blog\/wp-json\/wp\/v2\/posts\/107","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/riverbankfinance.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/riverbankfinance.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/riverbankfinance.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/riverbankfinance.com\/blog\/wp-json\/wp\/v2\/comments?post=107"}],"version-history":[{"count":13,"href":"https:\/\/riverbankfinance.com\/blog\/wp-json\/wp\/v2\/posts\/107\/revisions"}],"predecessor-version":[{"id":3983,"href":"https:\/\/riverbankfinance.com\/blog\/wp-json\/wp\/v2\/posts\/107\/revisions\/3983"}],"wp:attachment":[{"href":"https:\/\/riverbankfinance.com\/blog\/wp-json\/wp\/v2\/media?parent=107"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riverbankfinance.com\/blog\/wp-json\/wp\/v2\/categories?post=107"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riverbankfinance.com\/blog\/wp-json\/wp\/v2\/tags?post=107"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}