Lot Loans & Land Loans Are No Longer Available w/ AAXA.

AAXA is no longer offering lot loan programs due to current market conditions. Most of our investors have discontinued their programs due to there being little appetite for these loans in the secondary marketplace. Basically, there are little to no buyers for these types of mortgages. This fact leaves buyers and land owners with a couple of options.

Best Solutions for Financing Lot Loans and Land Loans:

1. You may want to consider doing a cash-out refinance or equity line of credit on your primary residence to finance the lot. If this option is economically feasible, you may end up with a lower rate and payments, and an extended payment term than you could not get with a traditional lot or land loan.

2. Speak with your local bank or credit union. Some local lenders still offer lot loan financing because they will portfolio the loan. Meaning they keep the loan themselves and do not have to sell it. You may be able to negotiate a good rate as well because these banks and credit unions are very interested in your deposit accounts (checking and savings).

   
   

Sorry we could not further assist you with a traditional lot loan or land loan. If you would like to discuss doing a cash-out refinance or obtaining a home equity loan on your primary residence to finance your lot, give us a call - 877-728-3569.