Interested in buying 10 acres of land. Currently have home with 30 yr fixed mortgage.?

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Can refinance home to purchase land, should get home equity loan or should buy land seperately?

  1. Reply
    May 1, 2011 at 6:53 am

    It will be more difficult and expensive to get a land only loan through a bank. A lessor expensive way is owner financing, but be careful you check the deed, legal descriptions, surveys etc, because nobody else will, work closely with the title office. Another less expensive way is your equity line, again use the same cautions as above.

  2. Reply
    robert w
    May 1, 2011 at 7:02 am

    pay cash.
    never ever risk ur home for dirt!
    buy the dirt as separate loan.
    do not in any way connect the dirt to ur house. get way to lose house.

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