Generally speaking, there are not restrictions on the amount of land a property has on a USDA loan. Normally the rule of thumb is that the land value should not exceed 30% of the total purchase price. If you need help with a USDA loan (or any other type of mortgage), please don't hesitate to call me at 405.308.4208. We are an Oklahoma based company and are very knowledgeable on the local loan programs. Thank you! Nick Utesch; Progressive Financial Services Corp; NMLS ID #214427/216693
Feb 5th 2014Rates:
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No.. however USDA is intended for low to moderate income borrowers, and allow you to finance 100%. Section 502 states that the housing must be modest in size, design and cost.. so if the property is considerably larger than other properties in the area, USDA underwriter could have a problem with it.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com
Feb 5th 2014