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#109658 - 08/25/03 06:52 PM Installment Note
HR Banker Offline
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Joined: Oct 2002
Posts: 1,027
Can a loan for a one acre lot be put on an installment note? Is there something in a regulation that states acreage above or below a certain amount can be on an installment?

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General Discussion
#109659 - 08/25/03 06:55 PM Re: Installment Note
complylady Offline
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complylady
Joined: Jul 2002
Posts: 614
Michigan
There is nothing in the regulations. State law may be a different matter, but not in Florida.

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#109660 - 08/25/03 07:58 PM Re: Installment Note
Andy_Z Offline
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Andy_Z
Joined: Oct 2000
Posts: 27,485
On the Net
Usually the defining terms here are what the customer can repay and the schedule you, the lender, will accept.

To be clear, when you say installment note, you mean payments? Some lenders I have heard refer to "installment" as in "consumer", vs. commercial or real estate.

As noted, check your state laws and your internal policy.
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