Buy Land
Buying land that has not been developed allows potential homeowners to build their dream home. Montana is a western state with a population of about 900,000 residents. The topography of Montana is one-third mountains and the other two-thirds is rolling plains. The process involved in the purchase of land is straightforward. Most national mortgage lenders will not lend on typical land purchases, unless they meet certain value requirements, or are part of, or related to, a construction loan obtained from the same institution. Montana has a lot or rural land eligible for farm loans, which can be used to secure land. Landowners will often provide financing by accepting a 20 percent down payment and holding a promissory note on the remaining balance due. A Montana licensed real estate agent can also assist with the location of local lenders known to lend on land purchases in your area.
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