Posted on: 24th Feb, 2011 10:54 pm
We have land in East Texas, and my parents gave me 7 acres to use as collateral for a loan. Is there a certain name for this type of loan? And what’s the easiest process and best banks to use?
Welcome cdurham,
You can go for a land loan wherein you can use the land as a collateral in order to get a loan. You should contact the local banks in order to get a land loan. If you satisfy the required criteria of the lender, you'll be able to get a loan.
You can go for a land loan wherein you can use the land as a collateral in order to get a loan. You should contact the local banks in order to get a land loan. If you satisfy the required criteria of the lender, you'll be able to get a loan.