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Company Loan Type APR Est. Pmt.

Loan on property under 25 acres

I am a mortgage broker for farm loans (over 25 acres)
We get a lot of requests in for mortgages on properties under 25 acres. Mostly over 5 / 10 acres but under 25 acres. Does anyone know of a lender who would like to look at these loans?

jenkin7's picture
jenkin7 | Joined: June 4, 2007 11:02 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi tmccue,

There are a number of lenders in this community. I think it will be a good idea to go for a no-obligation free mortgage consultation with them and check out if any of them can offer mortgages on properties under 25 acres. Different lenders follow different underwriting criteria. There could be someone in this community who might offer such loans and help the property owners with less than 25 acres with a mortgage.

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 02:12 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I have heard that the VA will not float a loan on a home that sits on over 5 acres. Is this true? We cannot qualify for a rural loan, because we are over the income limit. Thanks.

[size=9:4035c4c385][color=Red:4035c4c385][Email address deleted as per forum rules. Thanks.][/color:4035c4c385][/size:4035c4c385]

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 02:12 | Post subject:

jameshogg's picture
jameshogg | Joined: December 20, 2005 02:58 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Olympia,

As far as I know, VA has a maximum loan limit per county. That will determine the laws regarding the size of the land. You can check out the given page for more information about VA loans: "www.benefits.va.gov/homeloans/docs/vap_26-4_online_version.pdf"

Thanks

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 02:12 | Post subject:

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