Can I get a loan on the lot that I own?

Can I get a loan on the lot that I own?

Flipper/Rehabber · Schertz, TX · Member since 2014 · 13 posts · 3 votes

I have a lot behind my primary home, Its paid off so i was wondering how can i use it or can i refinance it? I have seen lots in the neighborhood sell for 40,000.

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  • Rental Property Investor · Drums, PA · Member since 2017 · 345 posts · 365 votes
    8y
    @Edgardo Matos technically yes, however it will likely prove extremely difficult for you to find a bank willing to use a small pIece of land as collateral.
  • Flipper/Rehabber · Schertz, TX · Member since 2014 · 13 posts · 3 votes
    8y

    @Mike Dorneman I have been looking and it sure been difficult, that is why  I posted in hope of someone that may have done it can advice on how to accomplish it ^_^. Thank you for your post.

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