Posted on: 29th Apr, 2010 09:19 pm
How can I get a loan on land that I inherited? There is no loan balance it's paid for free & clear. And I would like to get a loan using it as collatoral.
Hi hd,
If the property is in your name, then you'll be able to get a loan on the land that you've inherited. You will have to contact the local lenders of your area and get pre-approved for a mortgage. Depending upon your financial situation, your income, etc. you would be able to get a mortgage.
You can even contact the lenders of this community and seek a no obligation free mortgage consultation from them. This will help you in knowing whether or not you would be able to get a mortgage.
If the property is in your name, then you'll be able to get a loan on the land that you've inherited. You will have to contact the local lenders of your area and get pre-approved for a mortgage. Depending upon your financial situation, your income, etc. you would be able to get a mortgage.
You can even contact the lenders of this community and seek a no obligation free mortgage consultation from them. This will help you in knowing whether or not you would be able to get a mortgage.