How Much Do You Have To Put Down On A Farm Loan. But there’s another step you’ll need to get through—presenting your construction plans. Most lenders can lend up to $417,000 with the exception of alaska, hawaii, and guam.
You can also expect to put 10% to 20% down on the loan. If you can put down 20% you won’t have to pay a pmi which lowers your monthly payment. You do not need any money down, but you cannot borrow more than this amount.
How much do you have to put down?
The loan requires you to put down 3.5% of the total purchase price plus repair costs and required contingency (“buffer”) costs. This strategy reduces your monthly payment and lowers how much you’ll pay in interest. What interest rate should you anticipate? Down payments for land loans generally range between 20 and 50 percent of the purchase price.