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It is hard to gain a loan in the current markets. You can apply for a loan online with Bank of America.

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15y ago

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Is a loan for land the same as a mortgage?

No, a loan for land is not the same as a mortgage. A loan for land is specifically for purchasing land, while a mortgage is a loan used to purchase a property, which may include land and a building.


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Rural development loans are for people who plan on building on rural property or acreage. The best bet for you to aquire this type of loan is to contact the local bank where you wish to build.


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Where can you go for online loan refinancing?

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How can I use land as equity for a construction loan?

You can use land as equity for a construction loan by offering the land you own as collateral to secure the loan. The value of the land will be assessed by the lender to determine how much you can borrow for the construction project. If the land has enough value, the lender may approve the loan based on the land's equity.


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Is a land loan considered a type of mortgage?

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