Posted on: 21st Jun, 2009 04:31 am
I need to pay a balloon payment of $29,000. This is on a piece of property that was appraised a year ago for 124,000. It is vacant land between developed houses. I need a lender soon!
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Hi micn,
Land loans are not easy to get these days. Most lenders have stopped offering such loans. The few lenders who still provide such loans would want you to have a very good credit to qualify for the loan. What is your credit score? Are there any negative items on your credit? Have you had any late payments on your balloon mortgage till date?
Land loans are not easy to get these days. Most lenders have stopped offering such loans. The few lenders who still provide such loans would want you to have a very good credit to qualify for the loan. What is your credit score? Are there any negative items on your credit? Have you had any late payments on your balloon mortgage till date?
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