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Most banks approve home improvement loans based on the equity in your home. So yes, you will likely need to be the homeowner in order to be approved for this type of loan.

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Q: Do you need to have bought your property to get home improvment loans?
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What are home investment loans used for?

Home investment loans are used for people wishing to purchase property for investment. Home investment loans are mortgages on properties that will be used as rental property or held until their value increases.


Can you sell your paid for home if the loans you co-signed for are not paid the loans are being deferred and your home was the collateral?

Your home is not paid for if it was used as collateral for loans. A loan that has real property as collateral is called a mortgage and a mortgage is a lien against your property. You cannot sell your home until the mortgages have been paid off or in the case of a sale arrangements are made to pay the loans from the proceeds of a sale.Your home is not paid for if it was used as collateral for loans. A loan that has real property as collateral is called a mortgage and a mortgage is a lien against your property. You cannot sell your home until the mortgages have been paid off or in the case of a sale arrangements are made to pay the loans from the proceeds of a sale.Your home is not paid for if it was used as collateral for loans. A loan that has real property as collateral is called a mortgage and a mortgage is a lien against your property. You cannot sell your home until the mortgages have been paid off or in the case of a sale arrangements are made to pay the loans from the proceeds of a sale.Your home is not paid for if it was used as collateral for loans. A loan that has real property as collateral is called a mortgage and a mortgage is a lien against your property. You cannot sell your home until the mortgages have been paid off or in the case of a sale arrangements are made to pay the loans from the proceeds of a sale.


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I have 1.70 acres in Spencer indiana with a mobile home on it. I am needing to get a well for the property and was wondering if I could take a loan out on the property. I own the mobile home and property and no outstanding loans on any of it.?

Yes you can mortgage the property but the home likely wont add much if any value to it.