Posted on: 02nd Aug, 2010 11:54 am
I have 2.8 Acres of Waterfront Property on a Lake in Texas. It is owned free and clear. The property has all the Utilities on the property, as well as many Improvements. The property is appraised at about $60,000. I am just needing a small loan for 18,000 and would like to use the property as collateral. Any help with a Lender would be greatly appreciated.
Hi dtrueblood!
Welcome to forums!
You may be able to qualify for a loan provided you have a good credit score and income. I hope you have a credit score of around 700-720 and a stable income. These two will help you in getting approved for a mortgage. You can speak to the local lenders in order to get a loan. They will let you know whether or not you would be pre-approved for a mortgage. Alternatively, this community has a large number of lenders. You can seek a no obligation free mortgage quote from them. This will let you know what type of rates and terms you would get.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
You may be able to qualify for a loan provided you have a good credit score and income. I hope you have a credit score of around 700-720 and a stable income. These two will help you in getting approved for a mortgage. You can speak to the local lenders in order to get a loan. They will let you know whether or not you would be pre-approved for a mortgage. Alternatively, this community has a large number of lenders. You can seek a no obligation free mortgage quote from them. This will let you know what type of rates and terms you would get.
Feel free to ask if you've further queries.
Sussane