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Loan against Land?? Where do I start?

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dakota_destiny Joined: 25 Aug 2009 Posts: 1 1.39 Dollars($)	Posted: Tue Aug 25, 2009 8:19 pm    Post subject: Loan against Land?? Where do I start? Like 0 Dislike 0 Hi, my husband and I own free and clear 6.5 vacant acres in N.M that has a current appraisal of $200,000. We would like to borrow under $20,000 against that land, but I don't know which type of loan to look for, or ask for, or apply for.... I don't know where to start.
jenkin7 Joined: 04 Jun 2007 Posts: 4537 Location: Hawaii 728.43 Dollars($)	Posted: Tue Aug 25, 2009 10:40 pm    Post subject: Like 0 Dislike 0 Hi dakota, If you want to borrow money against your land, you need to look for a lender who offers land loans. This type of loan is not easy to find in this economy. Most of the lenders have stopped offering loans against land properties. Those who still offer would charge you higher interest rate. But there could still be certain lenders who process land loans. You can contact some of the local lenders and check if they still offer such loans. You may also seek a no-obligation free mortgage consultation with the lenders in this community. They will check your credit scores and assess various other factors and will let you know if getting a land loan is possible for you.
Jothi Guest	Posted: Wed Jan 05, 2011 10:50 pm    Post subject: Land loan Like 0 Dislike 0 I have 2 and half ground vacant land in thiruvanamalai. I need a loan amount of 2 lakh.. Can you help me
adonis Joined: 22 Oct 2005 Posts: 10562 Location: ALASKA 1089.18 Dollars($)	Posted: Thu Jan 06, 2011 9:26 pm    Post subject: Like 0 Dislike 0 Welcome Jothi, Thiruvanamalai??? Is this in USA? I don't think so... You should contact your local lenders and apply for a mortgage. They can guide you further in this matter. _________________ Procrastination is the enemy of your financial success
padmavathy Guest	Posted: Mon Jul 11, 2011 6:50 am    Post subject: want loan for vacant land and want to be a flats builder Like 0 Dislike 0 hi can you suggest any bank which gives loans against vacant land in lower rates? and can you help in consturction of flats and selling
sara Moderator Joined: 05 Jul 2006 Posts: 2694 Location: New Brunswick, New Jersey 496.42 Dollars($)	Posted: Fri Jul 15, 2011 1:19 am    Post subject: Like 0 Dislike 0 Hi padmavathy, You will have to contact your local lenders and shop around for low interest rate loans. If you have a good credit score, it will be easier for you to qualify for a mortgage with a lower interest rate. Take care _________________ Find me at FB: http://www.facebook.com/people/Sara-Jones/100002976822020

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