Can you take out a equity line of credit on land?

[Sara Blatz]

I’m looking into buying rental properties but don’t have enough money, I’m 21 I don’t have any credit, but have 10 acre piece of land, can you take out a line of credit on that piece of land?

It’s not developed there’s only a Water well on it.

[Eric Johnson]

If the lender were to seize the property, they would have no interest in raw dirt & it would sit on their books for probably quite awhile. 

Even if you're talking prime land in a major city, it's still just dirt. A lot of credit unions finance land, but that's assuming you are then building a home on it or doing some other construction. 

There's no harm in calling local credit unions and asking them. That's the only way to know for sure.