Home Buying in Faribault>Question Details

Sara, Home Buyer in Saltaire, AL

Im trying to buy a seasonal lake cabin on leased land in minnesota. Does anyone know a fiinancial institute?

Asked by Sara, Saltaire, AL Mon Jun 30, 2008

that would finance something like this? I have tried everywhere and no place will touch it.
Thanks, In Need Quickly,

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Kathy and Steve Taylor’s answer
Is this property on leased land or in a coop? Most banks wil lnot lend on leased land. You might try a credit union if you have one at work. Where is the property located? Some smaller bank may lend 50%. Most people take out an equity line on their homestead. Good luck.
0 votes Thank Flag Link Wed Jun 10, 2009
Sometimes it depends on the value, and etc. not enough info here answer.
0 votes Thank Flag Link Mon Jun 30, 2008
Hi Sara,
We work with a great lender who might be able to help you out, and if he can't he should be able to point you in the right direction. Contact Blair at Prime Mortgage (763) 222-1502
Web Reference: http://www.thegoheens.com
0 votes Thank Flag Link Mon Jun 30, 2008
You might be able to get a personal loan or something like an RV loan but because the home is not on a piece of owned property, it is very likely no one will give you a traditional mortgage.
0 votes Thank Flag Link Mon Jun 30, 2008
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