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 larrygopez
Joined: 04 Nov 2009
Posts: 1
1.00 Dollars($)
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 Posted: Wed Nov 04, 2009 9:38 pm Post subject: Great business idea needs funding. |
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| Can I get a collateral loan on land in Oklahoma for new business in Dallas TX, I live in Dallas. I have 20 acres near Lake Eufala |
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jameshogg
Joined: 20 Dec 2005
Posts: 4291
Location: nevada
509.34 Dollars($)
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| Posted: Thu Nov 05, 2009 12:27 am Post subject: |
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Hi larrygopez,
You can get a land loan if you are using the land as a collateral. You can start contacting the lenders and check out the present rates and terms for the land loans. This would help you in deciding whether or not you would be able to afford the loan. You may even seek a no obligation free mortgage consultation from the lenders of this community. This will also help you know the present rates and terms prevailing in the market.
Thanks |
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gmakerley
Community Mentor
Joined: 09 Nov 2007
Posts: 7405
Location: bloomfield, ct
62.63 Dollars($)
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| Posted: Thu Nov 05, 2009 9:55 am Post subject: |
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bear in mind though, that land loans are perceived as quite risky by lenders, and you'll not find them at every lender's doorstep. you will need to do some serious shopping around, i would think.
_________________
George M. Akerley
Loan Consultant
860-221-5044 |
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