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>>Land loans have a bit higher percentage and lower term, but the principal is way lower too. From what I can figure, you'll pay about $500 a month on a 10-year land loan at 9%. (these numbers are just guesses, but hopefully within the town if not the ball park.)<<

By "higher percentage and lower term" I'm guessing that you mean "than a mortgage." (and certainly than a construction loan, which I believe is hovering around 5.1% these days)

So, the subdivision is offering a "10% down, 0% interest for 6 months, closing costs paid by seller, 10% interest after 6 months" offer right now. I am reluctant to take a promo offer by the subdivision because I can't help but think I should be able to get a better deal from a bank... but what do you think?

OF course, now that I see what I wrote on paper about the materials, I see how silly it looks. We were just brainstorming on how to reduce costs.
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