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aaron1976
631 Posts |
 Posted - 07/10/2008 : 1:58:47 PM
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SFR on 35 acres of land in Colorado Suburban
388K loan amount cash-out Siva
780 Fico more than 6 months PITI
O/O |
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JOHNA_BAYSTREET
217 Posts |
Posted - 07/10/2008 : 2:36:30 PM
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| What is the LTv and what are they looking for? |
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aaron1976
631 Posts |
Posted - 07/10/2008 : 2:37:29 PM
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| 80% LTV and a rate under 7%. |
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ss5547
250 Posts |
Posted - 07/10/2008 : 2:39:07 PM
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| Fannie will insure said loan so long as the land is not income producing. |
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aaron1976
631 Posts |
Posted - 07/10/2008 : 2:40:52 PM
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| Yes I know, but I need a lender who will go SIVA with the acreage. |
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bestbet123
1577 Posts |
Posted - 07/10/2008 : 2:42:35 PM
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| will it appraise with just using 5-10 acres? |
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ss5547
250 Posts |
Posted - 07/10/2008 : 2:42:47 PM
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| Ah, sorry reading comprehension was never my strong suit. |
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bestbet123
1577 Posts |
Posted - 07/10/2008 : 2:44:19 PM
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| lmao me either just ask slants,she hates me and tells me i am stupid.i think she may be right. |
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aaron1976
631 Posts |
Posted - 07/10/2008 : 2:55:09 PM
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| You can't just cut acreage off of an appraisal. The property includes the SFR and the land. |
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