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You can if it is a legal real estate transaction like you get a deed for the physical land or some type of legal condo or co-op real estate transaction. Don't expect homeowner rates and terms. Look at commerical real estate lenders.
You can if it is a legal real estate transaction like you get a deed for the physical land or some type of legal condo or co-op real estate transaction. Don't expect homeowner rates and terms. Look at commerical real estate lenders.
Of course it's real estate, but it's not something anyone is going to lend on. The OP would have much better luck finding a personal loan than finding a secured parking space loan.
Of course it's real estate, but it's not something anyone is going to lend on. The OP would have much better luck finding a personal loan than finding a secured parking space loan.
That is true, being able to get a loan vs. getting a loan is worlds apart. On Hawaii, land loans are common but only 1 bank and 1 credit union offerd land only loans for parking spaces in Honolulu. The rate was something like 3% above real property loans, was only for 10 years or less and an LTV of 50%. They also required it be a fee simple with its own TMK (individual taxed property) or under a condo property. I was lucky the company finally bought it for our use and not me personally.
Crazy... I suppose though, parking spots can be rare in places.
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