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land collateral new home construction

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rhondacarter Joined: 29 Nov 2010 Posts: 1 1.24 Dollars($)	Posted: Mon Nov 29, 2010 6:21 pm    Post subject: land collateral new home construction Like 0 Dislike 0 My brother owns his own property, can he use this as collertal to bulid a home on his property Pensacola , Florida
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Mon Nov 29, 2010 9:02 pm    Post subject: Like 0 Dislike 0 Hi rhondacarter! Welcome to forums! A land can used as a collateral to get a mortgage. Your brother will have to contact the local lenders who offer land loans and apply for a mortgage. If he meets the required criteria of the land loan lenders, then he will be able to get the mortgage. Feel free to ask if you've further queries. Sussane

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