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Can I get a home equity loan on my parent's farm?

Is it possible to get a home equity loan on my parent's farm to pay for my dad's nursing home and fix the house and turn into a rental? My mom died and I am an only child with POA. The farm is 32 acres. by rosser266 from Buffalo, Indiana. Aug 10th 2022 Reply

Dave Skow (daveskow)
#16 ranked lender in Washington - 371 contributions

your best bet will be to contact the local credit unions / banks that are in the area of the property . you also might look into a reverse mortgage to see if you can access the equity this way

Aug 11th 2022
Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 4,747 contributions

YOU can ONLY take out a loan if you are an owner... Your question only says you are Power of Attorney. If you are now also an owner of the property, you can apply with permission of an other owner(s). I provide home mortgage loans in MN, WI, IA, ND, and SD. Find me at - Cambria Mortgage, NMLS 274132

Aug 16th 2022
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