Using Land as Down Payment

[David F.]

Which valuation would a traditional bank use as down payment, the price I paid for vacant land or an appraiser-determined value of the land? Thanks in advance.

[Wayne Brooks]

They won’t “use the land for a down payment”.....your “down payment” is cash from you that goes to the seller, along with your loan proceeds, in a sale.  Whatever you can borrow in cash from someone, if any, against the property will be available as your down payment.