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can i refinance my agriculture zoned property with residential loan now that I have a dwelling on it (california)?

by playso_543_680 from Fremont, California. Jan 14th 2013 Reply


Lorne Harvey (lorneharvey)
#80 ranked lender in Washington - 431 contributions

That is certainly possible, but you will need to share the specifics with a mortgage lender to get that determined. I would recommend that you call Karen McIntyre or Lindsay Whitter at American Pacific Mortgage at (916) 960-1325 If you do find out that you have a non conforming type of loan situation, you could always check with your local Farm Credit Service Agency.

Jan 14th 2013
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William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,726 contributions

A lot of info missing, but in general, you can... however i have seen deals like this fall out at the last hour because the underwriter didn't like what they saw on the appraisal... it's best to deal with a local mortgage broker, not the big bank or nationwide lenders.. You need someone local who is familiar with your area and property type.. 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. 480-287-5714 WilliamAcres.com

Jan 14th 2013
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Bert Carpenter (BertCarpenter)
#37 ranked lender in Arizona - 1,823 contributions

Probably, but there are a lot of potential pitfalls. It will depend on how large the parcel is, the valuation, the loan amount, etc. Definitely work with a local mortgage professional that knows your area well. I would look for a Mortgage Banker/Broker rather than one of the big banks or nationwide mortgage factories. You want someone willing to look outside of the cookie cutter mortgages you'll get from those guys. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Licensed in California and Arizona ~ www.LoansA2z.com 888-889-9950

Jan 15th 2013
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Steven Ceceri (CreativeFinancingOptionsGroup)
#36 ranked lender in Massachusetts - 723 contributions

Please send the address offline as well as some particulars including household income, estimated value of property, amount of loan desired, amount of any existing lien(s) to be paid off, credit score, etc. Thank you!

Jan 14th 2013
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Samantha Taylor (samantha)
#363 ranked lender in California - 29 contributions

As far as I know, you may be able to get a residential refinance on an agriculture zoned property. But you should note that such loans fall into problems when they are in the underwriting stage. It is better to take help of local mortgage brokers who can give you many loan options and also suggest local mortgage lenders rather than big banks. Also, getting such a loan will depend upon your state laws.

Jan 15th 2013
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,970 contributions

Maybe... the fact the property is zoned agricultural in and of itself does not prevent a standard residential loan. The current and best use of the property is the trigger. Sit down with a local non-bank licensed Loan Officer for detail on your personal situation. www.MortgagesUnlimited.biz

Jan 15th 2013
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Joe Shamie (Joe Shamie)
#4 ranked lender in New Jersey - 1,412 contributions

Yes....if the appraiser can locate similar properties that have recently sold in the appraisal report. Joe Shamie 866-970-3400 x274

Jan 15th 2013
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Michelle Curtis Loan Originator NMLS 401173 (EmbassyFundingLLC)
#77 ranked lender in Florida - 2,240 contributions

Complete details are needed to determine if you can.

Jan 15th 2013
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Matt Pollina (matt@smartmtgs.net)
#57 ranked lender in Illinois - 40 contributions

You should definitely contact a local broker. Usually brokers work with several different lenders. The good brokers have established relationships with various lenders and will be able to either contact an underwriter directly or use their account executive as a middle man to the underwriter. If you are able to do this, then you should be able to get a good idea of the chances of your loan closing. Of course your file will have to go through the full underwriting process but I have found that it is very helpful to get information directly from the source before wasting your time.

Jan 15th 2013
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