Is it a good idea to buy property with a secured loan?

It depends on the type of property and the loan amount. It's harder to do traditional mortgage loans for small (less than $75,000 to $100,000) because it is difficult for most lenders to comply with the cap on charges for small amounts Raw land can be purchased for cash or with money borrowed with no collateral (unsecured loans). But the pricing on a loan secured by the lot may be better and you may be afforded longer loan terms by securing it. ~ Bert Carpenter, The LoansA2z Team of NEXA Mortgage ~ NMLS 40586 ~ At NEXA, we've got you covered. We are licensed in all states except VA and we're pending approval in MA and NY. ~ www.ApplyYes.com 480-889-9000.

That really is a question based on your overall situation... I'll simply say people do it all the time. I lend in MN WI IA SD ND - Find me at WI-MortgageBroker.com - NMLS 274132