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what do i need to use my land for collateral

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shasta Guest	Posted: Wed May 07, 2008 3:18 pm    Post subject: what do i need to use my land for collateral Like 0 Dislike 0 I have 6 ac. of land in tx. What do i need, besides the deed, to get a loan fast? _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
cliff3 Community Expert Joined: 05 May 2008 Posts: 328 Location: Houston 75.44 Dollars($)	Posted: Wed May 07, 2008 3:29 pm    Post subject: Like 0 Dislike 0 Welcome Shata, To get the loan the only other step will be a title search, survey, and an appraisal which any lender will do before the will loan you money. You will need to contact a lender who will pre-qualify you for a loan. If you just need the money fast then you could go with a hard money lender. However, the interest rates they will charge you will be off the charts. _________________ Cliff Pape Market Analyst www.home-buddies.com
kpatrick Joined: 29 Oct 2007 Posts: 155 Location: Atlanta, Georgia 41.72 Dollars($)	Posted: Wed May 07, 2008 6:42 pm    Post subject: Like 0 Dislike 0 Hey Shata, Lot loans have gotten even more difficult to get than they ever have been before. Your best bet is to go to a local bank, preferably where you have accts. 65% LTV is usually the norm, and the days of stated lot loans are gone as far as I know. Good luck! Kim _________________ (770) 886-3140

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