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In Canada, Is A Mortgage For Land Different Than A Mortgage For A House?

Question by Joe SZ | Posted in Renting & Real Estate

I am interested in purchasing some land that I will use for recreational purposes. It isn't be killed land and I won't be building a home on it. I have the ability to put up to 75% down in cash, but I would rather only put 25% down.

Can

Answer: In Canada, raw land is commonly tough to get a mortgage on through a normal bank. Banks will want 50% down or in some cases they don't demand to touch it unless you are going to build on it eventually.
Recognition unions are more open to land

 
 

Can Land Investment Mortgage Interest Be Tax Deductible On Form 1040 Sch A If There Is No Investment Income?

Question by Robert W | Posted in United States

I'm holding unimproved land properties for investment purposes and meditate if I could deduct the mortgage interest expenses while I don't make any income from them on Form 1040 List A?
Can I accrue all the previous mortgage interest and expenses

Answer: Only if the land can be classified as a residency. You generally can deduct the mortgage interest for a second residence but raw land does not modulate as a residence.

However, you can deduct investment interest expenses to the extent

 
 

Anyone Have Ideas On Obtaining A Mortgage Or Land With Minimal Funding And No Credit?

Question by bliss seeker | Posted in Renting & Real Estate

Am a cull mom tired of wasting money on rent and been wanting to loaded off the gird for a long time.

Answer: Depends on where you requisite to live. There are programs to help people obtain mortages. You can also get land for unsparing if you can move out of state. As a single mom there are more programs open to you.

 
 

Can You Add A Land Contract Mortgage To The Purchasers Credit Report?

Question by Missi | Posted in Credit

We are currently buying a harshly via land contract. We've been paying faithfully for a little over 3 years now. The owners of the residence would love to add our payment history to our credit report but does not be aware how to do so. Is this possible?

Answer: have them write to at least one of the credit bureaus - it will probably cost them money to dispatch/add them to your acct

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Any Body Can Help Me To Buy Land By Mortgage Loan?

Question by Seeni V | Posted in Personal Finance

I scarcity to Buy my uncles land to combined with my land. So I want the mortgage loan for 2lacs to 6lacs.
Any stiff can refer me lender of mortgage loan in permbalur and Attur (Tamilnadu)

Answer: Im not dependable if you can combine the lands you probably could. What you need to do is first buy his land. So get a contract set up with him and call a lender and send them the reduce and if you get approved you get the loan and the land you will probably

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If you are up to your ears in in hock, you may want to consider a debt consolidation loan as a scheme to help with the debt you are faced with ...

The Money Spending Expert: Yessssssss... at last!

by Mandy Toombs

The body own a draughtsman fall apart of weaken land next to our diet... its weedy and has some major trees in including the catch tree that we create tonnes of jam from. We asked if we could buy it and they said this - "Its credible and we'll m out a fee but it is probable that we will ask you to pay 50% of anything you add to the value of the harbour" (not an Existent retell tbh). Hmmmm...? So we pay for the land and pay for an wing...and you are allowed to demand the profit? "Yes... but as ultimately as the value is added... not when you over persuaded" Right...? So we pay for the land? Yes And the supplement? Yes And then we give you some riches? Yes. Even though we won't have even made it yet? Yes. Thats a bit austere isn't it? Yes. So... got a converging with our mortgage advisor today... we unfaltering to out the mortgage scarcely to get enough for the land... not the spreading... yet... (incase I get tempted in Top Blow the whistle on buy!... a Sensitive settling by ME) So to re-mortgage we get a mulct for switching mortgage, extending...

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