can you get a mortgage on a land contract?
What do you mean. That is a pretty open ended question. Are you the buyer or seller? You can either way it goes if you are the buyer then you are basicly doing a refinance and you will no longer make payments to the current owner. (provided you are credit approved) and if you are the seller you can but you want to be very careful doing this and make sure that it does not violate any of the terms of the current land contract. You may raise your payments to higher than you are currently recieving from the buyer. If you have set teh contract up to be a fixed payment then you will have to eat the difference. Hope that helps you some.
Commercial mortgage lenders and land loans
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Tags: can i get a mortgage on land · equity · home · loan · loans · mortgage on land · mortgage on land canada · mortgage on land only · mortgage on land purchaseNo Comments
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