Seeking Advice: Personal or Secured Loan Using Free & Clear Property in Durham, NC
I’m exploring optionsbif any for a personal or secured loan using my property as collateral and would love advice or referrals.
Property Details:
Free & clear residential lot in Durham, NC (Pinery subdivision)
Includes a large shop (22×54) and a studio apartment attached
Current rental income: ~$2,100/month from the studio
I also live on the property
Deed in my name, inherited property
Tax value: ~$134,000
My Situation:
Credit: Below average, working on rebuilding
Income: No W-2 income; I can provide bank statements and rental income proof
Loan Amount: Ideally $5k–$25k (flexible depending on terms)
Purpose: Personal use and investment flexibility
Documents Available: Deed, Forestar interest in purchase papers, and other relevant property documentation.
Thanks