Posted on: 29th Nov, 2010 05:21 pm
My brother owns his own property, can he use this as collertal to bulid a home on his property
Pensacola , Florida
Pensacola , Florida
Hi rhondacarter!
Welcome to forums!
A land can used as a collateral to get a mortgage. Your brother will have to contact the local lenders who offer land loans and apply for a mortgage. If he meets the required criteria of the land loan lenders, then he will be able to get the mortgage.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
A land can used as a collateral to get a mortgage. Your brother will have to contact the local lenders who offer land loans and apply for a mortgage. If he meets the required criteria of the land loan lenders, then he will be able to get the mortgage.
Feel free to ask if you've further queries.
Sussane