Refinance Land 20% LTV
Anyone know of a lender who'd refinance land. I'd like to lower the note payment. I owe less than 20% of the value.
I would definitely go to small local bank or credit union in the area (any on that has less that 3 branches). Of the big banks, I'd check with US Bank as they seem to be the most investor friendly of the banks.
Best of Success!
@Alvin Mercer- Agree with Ms. Weuhle above.
Just out of curiosity, what do you plan to do with the land?
Depending on price you might be able to get a personal loan and use those funds to purchase the land. Alternatively you can do a construction loan with land acquisition.
@ Ryan Fox I'm looking to either a) Put a truck parking lot on a portion of the land to generate some income or b) Lease the land to someone else with bright ideas, Land is zoned industrial.