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Need loan on large acreage: 9000 sq ft. house on 25 acres

Residential home, i think i would need a non-conforming loan lender due to the size? by veray4280 from Hemet, California. Jun 13th 2017 Reply

What's the loan amount and the value of the property ?Randa

Jun 13th 2017
William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,726 contributions

More info needed. but in general, If it's zoned residential, and it's habitable, and there are other 25 acre parcels in the same area that have sold recently, then so long as you are within conforming loan limits, you shouldn't have a problem.. If the average size of the homes on 25 acre parcels is 4500 SF, then your property might see a 10% increase in value for the added SF, but lending guidelines will not allow a larger adjustment of 10%.. Here at RPM mortgage, we have both conforming and portfolio loan products.. give me a call, and I'd be happy to look at your scenario and see what can be done. I'm a preferred Lender with California and Arizona being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893

Jun 14th 2017
Larry Gray (lgray_312_247)
#592 ranked lender in California - 1,139 contributions

If you need another comparison I would be happy to do so. I do agricultural zoned homes as well if falling under the category of just "hobby farm or ranch" at best. Either way we underwriter and fund jumbo loans as well as conforming.

Jun 19th 2017
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