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need a loan 4 50k on 1.5acr, wife and i make mostly cash. no taxs. is it possible?

Profile picture for nc or bust
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July 09 2009 - Charlotte
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Answers (3)

Profile picture for natewolf
Loans are based on credit. So, you could potentially get a personal loan from a bank or credit union, using the land as collateral. This would not be a mortgage per-se. Check with your bank or try Truliant Federal Credit Union. www.Truliantfcu.org
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July 13 2009
Profile picture for Baltic Avenue
Yes, but it will be expensive. If the property is worth more than $90K you could borrow $50K at 12% plus 5 points
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July 11 2009
Profile picture for ohiosmitty
This will not be possible for any standard mortgage programs.
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July 11 2009
 

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