Looking to buy 160 acers. Acouple questions and info stated in body of post. Thank for for fredback : RealEstate


I came across some land great for hunting that use to be a old farm. but about 20 Acer’s or so we’re sold off. No current structures on the property. I have never took a mortgage loan out for a house or land. And would like to eventually build a house. It is located in north Eastern PA listed for 300k. Was bought in 1999 for 175k. It is about 35 percent wet land. 55% wooded and 10 percent feilds. With a road through the whole property but not for the 3 acres entrance from main road. Would need to build roadway to the road that was sold with farm house and barn. The current tax a year is 1523. There is trash and acouole dump sites. And no access road. And wetlands. I want to bid 150k and go from there. Now my question is what loan or way to go about buying land is the cheapest nd most efficient.

I am 25 years old with 71k saved up. take home is 56k yearly with only payment being 420 for truck a month. I was Approved up to payments of 1953 a month with taxes,mortgage and interest built in that was a one arm 10. I was pre approved 2 months ago before stumbling across this property.

The bank told me raw land loan they offer is 35% down at average of 4.9. would be paying about 80k in interest. The construction loan is 20% at average of 4.2. About 62k in interest. I plan on building a house eventually but not in a rush nor know how big or where on land to build it.

Questions… Is it possible to buy land then divide a acre for building a house? To keep taxes low on the remaining 159 Acer’s? What is the best loan for this situation? What would be the monthly mortgage for the land through either loan option or is a better loan option available? If no house I plan to still live off land or use as get away. Throw down rv or possibly trailer.

I mainly would like to know what is the cheapest and best way to go about buying/obtaining this land or if someone can share info that would be good for knowing before purchase. Thank you



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