Posted on: 17th Apr, 2010 01:15 pm
My family and I currently own about 150 acres of land in Mississippi. We are looking to get a loan on the land to start a business on it. What are our chances of getting a loan, and how would we go about it?
Hi specialocsns,
It will not be easy to get a loan against raw land. Most lenders do not want to offer you a loan against land unless there is a home on it. Thus, you may have to search a bit extensively to find out a lender who would offer you a loan against the land. What are your credit scores?
It will not be easy to get a loan against raw land. Most lenders do not want to offer you a loan against land unless there is a home on it. Thus, you may have to search a bit extensively to find out a lender who would offer you a loan against the land. What are your credit scores?
You'll first need to make sure that all debts are paid in full. They will check over your credit history for outstanding balances and judgements.