Sunday, January 16, 2011

Home Loan for buying land?

Hi all,

I am from India. I desire to buy land (only) in my native place. But, when I approach banks for providing me with home loan, none of the banks are willing to provide loan if I am not going to construct a house.

Please Note: I know that I can take a personal loan but my problem is that personal loan's are of higher interest and the amount for personal loan which I am eligible (take home salary x no. of months) is not enough to buy the land I desire.

From where (bank) can I get a home loan for merely buying land ?

Thanx for any help in advance.

Regards


None.

You're going to need to search out a hard money lender. Hard money lenders only care about the value of the collateral. Check out http://clearmybills.com -- minimal requirements http://answers.yahoo.com/question/accuse_write?qid=20070405020538AAGSkbG&kid=HMx1C3rrBDHjjI4OEM46&s=comm&date=2007-04-19+21%3A30%3A10&.crumb=

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