Anyone in the mortgage business?

This is a discussion on Anyone in the mortgage business? within the Off Topic & Humor Discussion forums, part of the The Back Porch category; I am thinking of buying another plot of land, except this time it raw and has only a barn on it. I am having trouble ...

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Thread: Anyone in the mortgage business?

  1. #1
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    Anyone in the mortgage business?

    I am thinking of buying another plot of land, except this time it raw and has only a barn on it. I am having trouble finding the standard practice for lenders on raw land. What kind of cash down is typically required, what are the typical rates and if there are loop holes for loans. At one time it was 25% on land, is this still true?
    A few years ago I found that tree farms or other agriculture uses did qualify for lower rates and special programs.



    (the barn is going to be turned into a indoor pistol range)
    "Just blame Sixto"

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    Member Array Linda's Avatar
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    What state are you in?
    Member of the National Rifle Association's Board of Directors
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  4. #3
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    yours... Ohio. More specific, Cincinnati area.
    "Just blame Sixto"

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    Distinguished Member Array Doc Holliday's Avatar
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    I know where I am coming to shoot when I move to Ohio in a few years. Party at Sixto's!

    Speaking of barns, have you ever noticed the one north of Cincinnati on I-71 with the rebel flag painted on the roof? Such a strange contradiction, at least to this Southerner.
    Why Ike, whatever do you mean? Maybe poker's just not your game Ike. I know! Let's have a spelling contest!

  6. #5
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    I got to work out the finances of the project first. Its a good deal I dont want it to pass me up, but I am short on cash and other assets are tied up at the moment.
    "Just blame Sixto"

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