I have a buyer who had a lender who pre-approved him for a zero down stated loan for a 15 acre property in Manor, TX, just outside of Austin, but still in Travis county. He’s an A+ credit buyer and the loan is $205k.
I’m waiting on a call from Capital Farm Credit, but I was wondering if it’s even possible to get a zero or 5% down stated loan on a farm and ranch property. The girl I spoke to at Capital Farm didn’t even know what a stated income loan is.
Farm and Ranch properties are a little harder to find funding for. Buying acreage/property, as long as it is NOT a working farm is easier
What was the outcome of this deal?
Indy Mac will do Land/Lot Loans up to 20 Acres.
Some restrictions Apply.
They also have great Construction to Permanent Loans
based on finished Appraised Value 90% LTV
First, determine if this is a farm property. You’ll need to find out if it’s rural or suburban. If it’s a working farm or not. 15 acres shouldn’t be much of a hold up. Try Agri Financial Services. They specialise in Agricultural loans. Call them and get your answers today!
Here’s the link:
Don’t mess around with unknowledgable loan officers especially when it comes to agricultural farm loans. You’ll waste evrybodies time. Go straight to the lending source. Go for the jugular. Go to jumboinvestments.com!