Questions regarding purchasing a building lot
To start, I have put a phone call into our realtor, but I have some questions I was hoping to get answered here.
My husband and I have dreamed about building a home for a very long time. Financially, we are a year or two away from being able to do so. In the meantime, a lot has gone on the market in a subdivision that we really like and for a fantastic price.
We can easily put 20% down on the lot, however, we would want to finance the remaining and pay it off prior to building on it. We have excellent credit and salaries.
My concern is, will a bank finance the lot if it will be 2 years before we build on it? Obviously, I will consult with my lender, etc. I was just hoping for some quick advice.