Mortgage loans for homes on over 10 acres: Primary, Secondary, Investment & Jumbo

[AJ Wong]

Here in Oregon we have a lot of rural residential properties on acreage that can sometimes make it difficult to finance otherwise strait-forward borrowers and mortgages. Most conventional mortgage investors limit the acreage to 2-10 acres so that the majority of the value is attributable to the structure and not majority land value. 

A great source to get a property with acreage financed is a local credit union. We work with one throughout Oregon that has helped get 'difficult' to finance properties closed. Credit Unions can sometimes have more strict lending criteria than brokers or correspondents and require membership. 

We work with one nationwide credit union that provides exceptional terms on 10+ acres with no true maximum number of acres. Cohesively the same investor offers Jumbo loans up to $5M (also on acreage). For estate or ranch type homes let's say 100 acres and $10M a mortgage of 50% LTV up to $5M Loan Amount is available on Primary, Secondary or Investment Properties. Income from the proposed purchase can be utilized to qualify but must be full income verification.

For this particular investor has no early payoff penalty and requires six months reserves for all REO owned. Bonus for refinances, there is no maximum to cash out in hand!

Mortgage loans for properties over ten (10) acres up to $5M are available to investors for all occupancy types. Text me for details. 

Anthony J Wong

Nationwide Mortgage Bankers / VP Business Development

541-800-0455

NMLS - 2297941