[odessadude]

We live east of Metro Atlanta and have visited DeKalb County a few times in the past few years. We really like this area and are considering retirement in this area. We drove around and looked at some land there and were curious if there is much owner financing of raw land?

If not, what do the banks in Norther Alabama require for a down payment on land in this area? What is the current interest rates on land in this area going for?

Thanks in advance!

[Twostep]

Financing of raw land depends on several factors - your down payment, your collateral, the terms you negotiate. Talk to a commercial lender at your house bank (if it one of the big ones ask for a business banker - same function, services different clients) and talk it over with him free of any committment. Then caht with a banker at a community bank in the area you want to buy. Talk to your tax advisor - it may be beneficial for you to up the mortgage on your primary residence and keep the land free and clear.
Send me a pm if you want. :>)

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