Types of Land Loan in Colorado

Raw Land Loans

Regarding land loans, raw land is thought to provide the most risk. No roads, utilities, power, or plumbing exist on this undeveloped piece of land. Make sure that before you approach a lender, you have a solid plan in place. Additionally, a sizable down payment will be required. 

Unimproved Land Loans

Compared to raw landscape, unimproved property contains a few more developments, such as older road access or infrastructure. Water and power still need to be made available. Though they are still far better suited to property development than raw land, these areas are called undeveloped land areas. You will also require a minimum down payment of 25% and an excellent credit score.

Improved Land Loans

Improved land loans are prepared for development right away. They have far less risk to investors. Improved land has the necessary services and infrastructure.

Lender risk is reduced because upgraded land has far lower construction costs. The 15% minimum down payment reflects this. 

Contact us to learn more about land loans in Colorado.

Please call us if you have any questions about loans in Colorado or would like to speak with a Land Loan Specialist over the phone. We will be happy to assist you with your needs.