Simple Question (Land Loans) - Posted by Sue

Posted by Sue on December 09, 2000 at 23:54:42:

I inherited some land awhile back that is worth at least 100,000. I own it free and clear. I don’t want to sell it yet, but I would like to use it as collateral on a loan which I would then use to buy a property (if I move quickly, I can get it very cheap).

What kind of loan does a person look for in a situation where you have equity in land, as opposed to a home?