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vacant lot

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lrt Guest	Posted: Fri May 20, 2011 2:52 am    Post subject: vacant lot Like 0 Dislike 0 I have a vacant building lot in New Jersey value $400000. can I get a 100000 loan . My credit score is about 680 [Email address deleted as per forum rules. Thanks.] _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
lrt Guest	Posted: Fri May 20, 2011 2:55 am    Post subject: vacant land Like 0 Dislike 0 I have a approved building lot approx. 15000 sf. value of 400000. looking for a 100000 loan. Please respond with rate and terms .
adonis Joined: 22 Oct 2005 Posts: 10574 Location: ALASKA 1090.82 Dollars($)	Posted: Fri May 20, 2011 8:06 pm    Post subject: Like 0 Dislike 0 Hi lrt, With a credit score of 680, it will be difficult for you to qualify for conventional loan. You will have to go for FHA loans. You can contact the local lenders and apply for a FHA loan in order to know the rates and terms that you may get. This community has a large number of lenders. You can seek a no obligation free mortgage quote and get to know what type of rates and terms you may qualify for. _________________ Procrastination is the enemy of your financial success
alcovamortgage Joined: 16 May 2011 Posts: 10 Location: McLean, Virginia 1.94 Dollars($)	Posted: Mon May 23, 2011 12:36 pm    Post subject: Like 0 Dislike 0 YOu can get a lot loan with that credit score. [Promotional content deleted as per forum rules. Thanks.] _________________ Dan Maggin Regional Manager Alcova Mortgage, Inc. www.AlcovaInc.com
unab Joined: 25 May 2011 Posts: 68 9.62 Dollars($)	Posted: Thu May 26, 2011 11:19 pm    Post subject: Like 0 Dislike 0 Definitely you can get a loan with your credit score. Please contact the lenders.
gmakerley Community Mentor Joined: 09 Nov 2007 Posts: 12376 Location: bloomfield, ct 58.49 Dollars($)	Posted: Fri May 27, 2011 12:13 pm    Post subject: Like 0 Dislike 0 Lenders are quite hesitant to offer loans collateralized with vacant land. Consider their quandary if and when a loan is defaulted. They'd be hard-pressed to sell the land in order to recover their investment. If the land in question was being developed in one way or another; or if it actually held some value over and above being simply land, there might be a greated likelihood of obtaining financing. _________________ George M. Akerley Mortgage Underwriter/Consultant Word of Excellence- Writing/Editing/Proofreading 860-221-5044

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