Can you use the equity in the land you already own?

If you own your land outright (no mortgage or liens) you can likely use your equity in the land toward the purchase of a new home. In this scenario, you could use your equity in the land as collateral or obtain a new loan against property and use the funds as a down payment on building your new home.

Keep in Touch:
Call: [phone]
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About Churchill:
At Churchill Mortgage, we believe homeownership is a big part of the American dream. After all, your home is where all of life’s moments take place. That’s why we’re committed to doing what’s right for you.
Since your financial goals are personal, we want your home loan experience to be too. By building out a smarter mortgage plan that works with your unique goals in life, you can cut time and money off your loan, which allows you to build wealth. And owning a home is one of the fastest and most stable ways to build wealth.
From your first phone call with our team through the length of your loan, you’ll see Churchill Mortgage does things differently. If you’re looking to buy a home or refinance and want to work with a family of people who are dedicated to doing what’s right for you, reach out. We’re ready to help!
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[george-broughton]

Google 2008 financial crisis before thinking about this.