1/2 acre Land Loan
How difficult is it to get a land loan? I've been living in a trailer on land owned by a old family friend that has passed away in February this year. I don't want to get kicked off the land by the new owners. The land is up for short sale now and the house on it and they have placed the land for short- sale. I looked at my credit , the fico is 715, i make $48k/year in construction for the last 5 years. thanks a lot to the professions here for the answers. by jguyer402 from Fall Rock, Kentucky. Dec 6th 2018
William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions
More info needed, but in general.. raw land purchases typically require 25% or more down.. but if the trailer on the lot is architecturally attached and an affidavit of affxiture has been filed with the county, then that land would be considered "Real Property".. if that's the case, then you can get a mortgage using conforming financing, and depending on the details, you can get the loan with as little as 3% to 5% down. I'm a preferred Lender with California and Arizona being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / LendUS, NMLS 1938/ AZMB0121893
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