Posted on: 09th Jun, 2010 07:20 pm
I am hoping to use 100% of my land equity as payment, but was told that only 65% is allowed.
It is a commercial lender.
I am interested in the rural development loan, but I need more information
I am retiring next year, my income will be reduced substantially, I will be building a manufactured home a small one which can be affordable to me.
Please give me some guidance to as of which loan as best for me.
It is a commercial lender.
I am interested in the rural development loan, but I need more information
I am retiring next year, my income will be reduced substantially, I will be building a manufactured home a small one which can be affordable to me.
Please give me some guidance to as of which loan as best for me.
Welcome Sons8sun,
You will have to contact the local lenders who offer rural loans on land. They will go through your financial situation and credit report and let you know whether or not you would get a mortgage. Also, you will get to know the terms and rates offered by the lenders. If you meet the required criteria of the lenders, you can get pre-approved from them.
You will have to contact the local lenders who offer rural loans on land. They will go through your financial situation and credit report and let you know whether or not you would get a mortgage. Also, you will get to know the terms and rates offered by the lenders. If you meet the required criteria of the lenders, you can get pre-approved from them.