Prefer to talk in person? Find a mortgage specialist on Zillow
Profile picture for user9088997

My family has about 200 acres of land in Aberdeen Mississippi. Can we borrow money on this land?

We want to form a family corporation but it will cost almost 20k to incorporate. What options are available ?
  • February 21 2013 - Aberdeen
  • 0
    0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

Answers (3)

Don't forget to check out hard money lenders as well.  You'll pay higher interest though.
  • February 22 2013
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Pam, welcome to the forum.  But please don't start coming to our (Lender) side and giving out generic canned advice of "go see your local Banker" just because you don't have the answers. Answers you shouldn't have,...because your not a Lender. In return I won't stand outside your office and tell Buyers to go elsewhere.

Yes, you can borrow against land. If you do not get many responses here try contacting some Lenders direct by using the "find a pro" link at top of the page. However you need to find a Mississippi "licensed" lender (that does not mean they have to be in MS) who offer land loans.  
  • February 22 2013
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

This question can be best answer by your local bank you work with regularly. They can direct you from there if you need additional assistance.
  • February 21 2013
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.