Can I use the land I want to build on as my down payment?
Can I use the land I want to build on as my down payment? I own land that I payed $24,000 for east of town. I’ve owned the land outright since 2018. I want to take out a mortgage for approximately $120,000 to place a home on. Can I use the land as my down payment or collateral? New Mexico, USA submitted by /u/stokeitup