Let’s Get Real Estate

A look at land loans.

Dear Jan: I imagine that loans are hard to come by right now. We are thinking about buying a piece of land. Are there any lenders who will still do land loans? DE

Dear DE: Good question. Loans are still easy to come by – for the right borrowers. Just like in the good old days, what is important today is the borrower’s credit score. If you have pretty good credit you can still get home loans AND land loans. Land loans do require a bigger down payment than homes, typically 10 percent.

I have many great land listings right now and in the last two weeks, I have had two of them written up with financing contingencies where the buyers are already pre-approved for the land loans. We will close as soon as the feasibility studies are complete.

Try to remember the news you read and hear is the national picture. Yes, it is scary. But so far over here in Kitsap County, we are doing OK. I am seeing the market pick up and have just closed on several sales. Call your agent; they can tell you which lenders are doing land loans.

If you have a real estate question you would like answered, e-mail Jan Zufelt at janzufelt@telebyte.com; put KCN in the subject line.

More in Business

a
Scarecrows will be out on Bay Street this Halloween

Visitors can vote for their favorite at a downtown business

City extends CARES business rental relief funding

Almost $100,000 delivered already to more than 20 local businesses

Port Orchard Cares: Grant program ready for small businesses hit by COVID-19

Twelve grants of up to $5,000 have been made available by city

Taste of PO photo contest over Labor Day weekend

Winners will receive gift certificates

Bremerton’s Art Anderson to support WSF hybrid design

Company to provide design components for up to five Olympic Class WSF ferries.

Search downtown this weekend — for painted rocks

POBSA merchants will hold drawing for those who post selfies with their rock

Restauranteurs struggling to survive in a COVID-19 world

The thin margins of small-business restaurants, crippled customer access, putting them on the brink

Port Orchard Chamber establishes COVID-19 resource page on its website

Links listed for national, state and county websites of benefit to business people

South Kitsap Properties opens new office in Port Orchard

Real estate office is on Bethel Avenue

IRS tax filing season starts Jan. 27

The deadline to file 2019 tax returns is Wednesday, April 15

Wave Broadband to increase costs of some TV services

Rate increases to take effect Feb. 1

Village Greens Golf Course wins Community edg3 Award

Bothell shoe company wins grand-prize award from Kitsap Bank