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Interest rate

 06/12/2005 10:07 PM fab44evr

I am looking to purchase a salt water canal lot in Palm Coast Fl. but know nothing in regard to how loans are handled for lots. What is a good interest rate? Is there a such loan as an Option ARM?
Thanks for any input.

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Interest Rate for Lots

 05/30/2006 10:46 AM lender64

Lot loan rates are higher than the average home mortgage rate. They are also short term loans, usually 2 to 5 years. There are no option arms but 2 years fixed and 12mat ARM and 6 month Libor ARMs. The rates are between the high 7's and 9's.

If you would like to know more.

888 610-7111
www.southwestmortgagelending.com

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