I have talked to most of the lending institutions on Hilton Head the last couple of days and the outcome is that they have deleted there lot loan program or they want between 20-25% down. The interest rate will be higher as well. The banks are nervous about the lot loan programs unless you have a set of plans in your back seat and you are ready to build. This would be a great time for owner financing and even the developer holding some paper for the buyer. Let's talk and figure something out.
Gas today on Hilton Head is about $2.79
Tuesday, October 21, 2008
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