Vacant Raw Land & Lot Financing in Canada

[@RichardsMortgageGroup]

Thanks everyone who has enjoyed this video so far. To answer some questions. We are located in Alberta, but can arrange mortgages across Canada through our network of lenders. Different provinces have different lending rules, so it's best to discuss your objectives with us first. Land lending is a very specific niche of mortgage finance and many mortgage brokers and bank reps won't even know where to start, so make sure you are getting the right advice from someone who knows what they are talking about.

[@VikkehBee]

What are my options for unorganized land ownership and having it used for art residence/s ? Main location Ontario, thank you.

[@leannepratt6638]

Thank you so much for giving such a great breakdown on some important questions! It's so amazing to have Canadian content on this and we definitely need more of it.

[@RichardsMortgageGroup]

You are so welcome!

[@karlyn6509]

This is extremely helpful and informative, especially for first-time buyers trying to find alternatives in an overwhelming housing market - definitely checking out the website next. Thank you!!

[@CoryResilient]

I live on Vancouver Island I need a cheap peace of land I have 8-10k I need to be able to build on it a log cabin. And just out an rv on it while I build. I just want to live a self-sufficient lifestyle and not pay rent

[@H2Oto369]

Cory Resilient that’s my dream...

[@untamedfeast]

Become a 'free miner' it's an easy certificate to get, you can make a gold claim(no gold needs to be found) and you can live 6months there and have a 'non permanent' structure, this might mean a house on wheels or skids, a yurt? Teepee, or..buy a trapline and do the same. Trapline you need to trap min 250$ worth per yr and pay royalty on that(fur tax) or..just claim you shot 1 wolf, tanned it up real nice and sold it to a friend, get a 'reciept' for that wolf that maybe didn't exist, pay tax on that. Again, only allowed 6months of the year there...but, you can be 'getting ready' to trap your line for the other 6 months...plus, if you keep quiet, there is no enforcement. Hope that helps to get you started

[@untamedfeast]

Also, it's a hard thing to wrap your mind around, but you never really own anything on earth anyways, so..owning some land, or using a gold claim...your gonna die anyways, ownership is a bit of a trap

[@CoryResilient]

@@untamedfeast that's because the land was already ours they stole it and sold it back to us then taxed it

[@truthseeker4690]

Cory Exactly! I'm just looking for a couple of semi-wooded, private acres to drop a camper trailer on for weekend getaways close to Vancouver. Build some no-permit 10' by 10' cabins/sheds/whatever out of recycled pallet wood and have family and friends over for BBQ's, fire pits, sports games, tenting and just relaxation away from the crowded city. Stream would be nice for tested drinking water and a little hydro electric dam. With all the zoning bylaws and restrictions, are there any places left where you can legally do this?

[@vantuanma5967]

Thank you for sharing your knowledge!!

[@michaele1278]

Do you have any peers or people you can recommend in Ontario or Quebec?

[@certifiedtxnio9764]

All I want to know is where to look for land where I can build a house in

[@はII]

All the questions I had and but quite not clear ultimately with my questions though !

[@letstellthetruth3144]

How about pre made homes ? I m planning to put after I bought land!

[@jays2275]

Thank you! Will definitely be bookmarking your website.

[@melordinvestments1076]

Great video Chris

[@caliemm2159]

What about if ya got a service hydro, water, gas...service add a mobile trailer tiny house on wheels and plans to build a greenhouse? And commercial gardening?

[@RichardsMortgageGroup]

Tiny homes, trailers, and other non-standard properties are for the most part non-financeable with a traditional mortgage. You may be able to finance up to 50% of the land value only, but typically most mortgage lenders stay away from anything with ongoing commercial agriculture as it changes the foreclosure rules.

[@benmawel6506]

I would like to buy a 1o-20 of empty land around calgary alberta

[@chadpescod-realtor3308]

Outstanding video.

[@aninditagupta2643]

What about small business loan for people who don't have the down payment and want to make cottages on the land that they wish to buy?

[@CoryResilient]

Is there no way to finance land or a lot?

[@mr.b5583]

Thank you Richards.

[@RajeshKumar-kz6576urmotherhsoj]

awesome.......

[@burlmapleleafs]

Awesome Thank you sir

[@sharminfaraj5550]

Thank you , Could you speak about ranch and farm financing in Canada.

[@RichardsMortgageGroup]

Farm Credit Canada

[@whitbyretreat145]

So basically what he is saying is, No, you can't really get a mortgage for land, buy it in cash, OR buy a house/refinance and he can help

[@RichardsMortgageGroup]

Depending on the land location in Canada (big place!), the maximum land loans available are typically 50% with some very specials cases where ~70% might be attainable. You come up with the rest as down payment, and yes, home equity (if you or family member already own) is one source of getting the cash. If your point is you wish that banks would lend you more money on vacant land (and they won't), then the strategy becomes buy an existing acreage already with a house that is easier to finance with a much smaller down payment. If properties with homes are too expensive in your area, then the strategy might become move to and get employment in an area with less expensive homes. Hope this clarification helps. I am simply a messenger and a guide to what-is and what-isn't! Cheers

[@joej7028]

Good Information.

[@kiesersozay6813]

this is soooo smart .peace

[@jilldezsenyi7361]

On vacant land they want the test holes first lol J's 😒

[@Turbulences100]

Wolterland

[@bochka]

Awesome information. Thank you for sharing this with us.