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See our land loan restrictions. A one-tenth-acre to 5. 00-acre parcel is the primary acceptable parcel size with the lowest down payment requirement, depending on the availability of certain utilities at the site as well as qualified credit score of the applicant(s); A 5. 01 - 10-acre lot qualifies for this program without the need of a special exception quick cash loans chicago illinois the lender. A 10. 01 - 20-acre parcel requires a special exception by the bank, and there MUST be comparable, closed sales of parcels of 10.
01-20 acres within the subject market area in the preceding 12 months from which an appraiser can obtain comparable sales data; 20. 01-acre or larger parcels - NO FINANCING OF PARCEL LARGER THAN 20 ACRES. If you are a licensed, residential developer seeking to purchase multiple lots for spec home construction, please call for information on our available programs for developers.
Additionally, tribal lenders may require you to agree to resolve any disputes in a tribal jurisdiction. You are urged to read and understand the terms of any loan offered by any lender, whether tribal or state-licensed, and to reject any particular loan offer that you cannot afford to repay or that includes terms that are not acceptable to you. The purpose of shorter duration loans is to provide the borrower temporary financial relief.
Such loans are not a long-term financial solution. Persons facing serious financial difficulties should consider other alternatives or should seek out professional financial advice. This website is not an offer to lend. WhiteRockLoans. com is not a quick cash loans chicago illinois and does not make loan or credit decisions.