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can i get a mortgage on land

Construction, Lot & Land Loans: What Type of Loan Do You Need? – An experienced mortgage broker may have more loan options than a regular bank since they usually work with dozens of lending institutions across the country. Because of their variety of lending sources, a mortgage broker often can get you a better loan deal than if you contacted your local bank directly.

How to Use Vacant Land as Collateral for an Equity Loan. – Do the Research. Your lender may be hesitant to use vacant land as collateral for an equity loan. Since vacant land is not in use by the owner, lenders view it as too easy to walk away from if you.

How to Sell a House on a Land Contract While Still Paying the. – How to Sell a House on a Land Contract While Still Paying the Mortgage.. when homeowners have problems selling their homes and buyers have trouble making down payments or getting standard mortgages, a land contract can help both sell and buy real estate. Land contracts provide for a transfer.

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Can you obtain a mortgage on vacant land? | Yahoo Answers – Best Answer: Yes you can get a land lot loan. I work for IndyMac Bank and we specialize in them. Right now you need a 680 for full doc or 700+ for stated land lot loan. Max LTV’s up to 80% (used to be 90%). You can also do a construction to perm loan where you buy the lot and convert into a construction.

Can Property on Leased Land Be Financed? | Finance – Zacks – The Reality of Mortgages on Leased Land. In practice, many U.S. lenders will not give you a mortgage, whether you’re trying to finance a house you intend to build on land leased from someone else.

Vacant Lot Raw Land Mortgage Canada – Basically you can buy raw land or vacant lots with "residential lending" up to 160 acres’ with a "collateral loan" at Bank Prime Rate plus something, say Prime + 1.0% to Prime + 2%. Ask me. If your land purchase is bundled with a construction mortgage, you can likely get a less expensive amortizing mortgage at normal discounted mortgage rates.

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How does a Mortgage work when you Own your own land? (loan. – I have searched around and found some stuff but I am still not clear on how a mortgage works when you own your own land. I am hoping someone can clear this up for me. Here’s a scenario. Lets say I own my land outright, it’s 6.3 acres and it should be valued somewhere in the $50-$80K range.

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