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Loan against Land?? Where do I start?

Posted on: 25th Aug, 2009 08:19 pm
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.
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.
Posted on: 25th Aug, 2009 10:40 pm
I have 2 and half ground vacant land in thiruvanamalai. I need a loan amount of 2 lakh.. Can you help me
Posted on: 05th Jan, 2011 09:50 pm
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.
Posted on: 06th Jan, 2011 08:26 pm
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
Posted on: 11th Jul, 2011 06:50 am
Posted on: 15th Jul, 2011 01:19 am
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