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Message
Loan for a lot next to my house
Posted on 4/25/17 at 5:49 pm
Posted on 4/25/17 at 5:49 pm
What type of loan would I be looking for? TIA for any input.
4
Posted on 4/25/17 at 7:19 pm to SelaTiger
Auto
Posted on 4/25/17 at 11:32 pm to SelaTiger
I'm completely ignorant on this but I would assume since it's contigious with your current property you could refinance your mortgage and include it. However, the low amount needed to finance and the cost to refi the mortgage and possible hire rate might mitigate the savings vs a traditional land loan.
Posted on 4/26/17 at 5:11 am to SelaTiger
Heloc if you have equity in house. Will cost you 1k give or take and needs to be paid off in ten years or when you sell property. You only pay on what you use. The rate is usually prime +.25-.50. Keep it open for full term, that way if you need to make another move you can use again without paying for another loan.
Posted on 5/2/17 at 9:22 pm to SelaTiger
Check on property tax reduction by use of a property tie. Sometimes this can be done without a survey.
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