We can provide salary certificate , but we dnt have any property of our own . My mother in law is an NRI, and we want to buy some land and build a house of our own . Is there any chance that any bank will get us personal loans
2007-03-06 04:14:14 · 3 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
You get an interest only land loan to buy the land and convert to a construction loan when you are ready to build.....
2007-03-06 04:18:04 · answer #1 · answered by boston857 5 · 0⤊ 0⤋
Banks don't give loans on people. They give loans on assets. If you have no assets personally owned, then the bank wont' even talk to you.
If you're going to buy some land, get a mortgage on the land to buy and build the house.
2007-03-06 12:22:45 · answer #2 · answered by Marvinator 7 · 0⤊ 0⤋
You left out the most important factor. Your credit score and history. Most people can get unsecured loans with scores over 600. As long as they can verify income. Under 600 scores gets more difficult.
2007-03-06 12:18:28 · answer #3 · answered by Anonymous · 0⤊ 0⤋