30 Year Term with Fixed Rate – Lower Monthly Payments
The TRC land loan is offered at a 30 year fixed rate, which makes your monthly payments much more affordable than a traditional land loan, whose terms often force customers to pay off the loan within 10-15 years. Those payments may not fit in your budget. We offer a solution to keeping monthly payments low.
Poor Credit Won’t Affect Your Ability to Get a Loan to Buy Land!
Have you ever noticed that often those who are in the most need for a loan often have the most difficulty qualifying? As true as it has been, those days are over! If you’ve been denied in the past, you may think you are out of options, but Texas Rural Capital specializes in helping our customers obtain financing on land so that they can realize the independence and freedom that comes with land ownership.
Only 10% Down Payment Required
Our astoundingly low down payment requirement of 10% is one of the lowest in the nation for a land loan, especially for folks with less than exceptional credit. This gives you the flexibility to spend or save your cash on hand.
No Prepayment Penalty
Want to pay off your loan early? Not so fast, some lenders tack on hefty penalties and fees when you pay off your loan before a specified amount of time. TRC does not penalize you for early prepayment of your land loan.
Some Hard Improvements & Closing Costs Can be Included in the Loan
In addition to the land, we offer a quick and easy way to borrow funds for hard improvements (water, septic and electric). Unlike most other loans, our quick and simple land loan allows you to roll in hard improvements cost (water, septic and electric) in to your loan amount. In addition, if coming out of pocket for the closing costs is a problem, no worries, we also often allow those fees to be included in the loan.
Quick Pre-Approval & Closing – (Usually Within A Month)
When you receive your pre-approval, and your land is under contract, we can generally close your loan within about 3-4 weeks. One thing to keep in mind is that each loan will require a survey for the land being purchased. If the seller does not already have one they can provide, a new survey will have to be completed before closing.
Texas Rural Capital is pleased to offer financing for land to customers with an ITIN number. Approval is fast and easy, and we offer various options to prove income, including verification of employment.