Can you take a "home equity loan" out on a piece of raw land?

Hi everyone. This is my first post on this site…

I bought a 3 acre tract of land in NC for an amazing price about a year ago. I paid cash up front and used no financing scheme. Now I want to take money out of the land (like a home equity loan) and invest it elsewhere.

  1. Is it possible to do this?
  2. What is it called?
  3. Who should I contact?


I don’t know.

If I were you I would just get on the phone and call your local NC bank where the property is located and ask them. Also try a mortgage broker from the yellow pages. If you already have a loan with a bank, try that bank.

Let us know what they say. I am interested if you can get a raw land loan.

A couple friends of mine have done this. It was set up as and referred to as a line of credit which allows you to have access as needed or desired to your equity as opposed to a straight loan or mortgage.

It’s difficult to borrow money against raw land, and we are in a market where the lenders are not being at their most generous.

Call a couple of local banks and see what they say.

Line of credit is the best option, but will be difficult. Your best bet is to build on the lot and use the equity in the land as the downpayment on a construction loan.

Hi everyone, thanks for the information. Once I get back to the states I´m going to contact local banks and mortgage brokers. I´ll let you know what happens!