Rural Properties

By
Real Estate Mortgage Broker with Washington Financial Group, Inc

New product!!!!  Program Guidelines:

1. Acreage from 5-160 acres, up to 85% LTV with no mortgage insurance, up to 75% LTV for bare land, maximum debt to income ratio 45%, Credit score needs to be 700 or higher

2. Purchase and refinances for properties that do not qualify for traditional mortgages:

   Non-occupment coborrowers allowed, schedule f Income qualifies property, residence only at 30% total value, Flexibility with appraisal, cash out to buy out interest of partners/spouse

The property has to be in a rural area.  Questions please ask!!!

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Topic:
ActiveRain Community
Location:
Washington
Groups:
Mason County Realtors and Friends
Tags:
rural land loan

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Rainmaker
155,803
Valerie Spaulding
Allyn-Belfair-Hood Canal & Puget Sound-WA-Real Est
Windermere Peninsula Properties~Allyn~Belfair~WA

Great Post Patti with really good info.. I hope this new program shakes out some more buyers while there are some great prices out there!

May 21, 2009 05:25 PM
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Rainer
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Pattie Bigford

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