I just purchased a lot on Lake Murray. How much do I need to put down to obtain a lot loan, and what is the longest term for these loans?

You need to put 10% down on the purchase of the lot. Our maximum time is 15 years, but most lot loans have a 5 year call (due and payable) on them. Lot loans are in general for only 3 to 5 years with the intent to build a house on that lot and pay off the lot loan.

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