Why does rural zoning get hacked??

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Brianquigley

1885 Posts

Posted - 04/09/2008 : 2:46:57 PM

I submitted a loan to Wilmington, and because the zoning was R3 from the county, considered rural, they knocked my loan amount down $15,000.

What is the reasoning for this?

Are there lenders/subprime that do not cut loan amount for rural?

I needed $463K, and got cut to $450K

monarchdad

1811 Posts

Posted - 04/09/2008 : 2:48:01 PM

Less marketable property = more risk.

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