Originally posted by G5-Maniac
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Originally posted by G5-Maniac View PostI just read this whole thread and my mind is made up. Think in a couple more years I’m going to get serious about buying in Oklahoma.
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Originally posted by miket View PostMight be out of the loop, my last land loan was 10yrs, 20% down. ( paid off years ago ) Did research bit a few months ago and that seemed to still be typical. Guess I need to look deeper.
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Originally posted by miket View PostMight be out of the loop, my last land loan was 10yrs, 20% down. ( paid off years ago ) Did research bit a few months ago and that seemed to still be typical. Guess I need to look deeper.
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I would tend to think that banks only willing to finance 10 years would be in the minority at this point, with most being 20 years with 20% down, or 20/20. With that being said, with interest rates where they are at, some banks, as stated above are willing to go out to 30 years with a quarter down. The price per acre with this land in Oklahoma is a lot of the times half or even a third the per acre price as Texas, so it really is surprising to see what a fella could obtain, whereas it is just a distant dream when considering land buying in Texas. Talk to Jay, let him give some options and put you in contact with some local guys willing to take on out-of-staters with good credit and collateral, and you would be surprised at where you just might be hanging stands next year. These deer are BIG! and the views with most of these places are second to none!!
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