Farm financing hoop jumping

So, how are you going to get a loan? If the bank won't give you a loan without a stick built home how in the world are you going to purchase a piece of property. We've got 27 acres and had a heck of a hard time finding financing and we've got a great credit rating.

Why don't you own your current place after 32 years? Why in the world don't you go to the owners and ask if you can slowly make up past due payments? It sounds odd to walk away after so many years without a dime of equity. Heck, even if you don't want to stay there you could sell it to have a down payment for your next place.

I don't understand. Something sounds a bit funky.

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Moms don't look at things like normal people.
-----DD

Joshie, How come you mark out where I sid that 2 banks WOULD loan on mobiles, and than you ask me how Im going to get a loan, if the place dont have a stick built home on it.

2 TWO bankers have told me they could loan on bare land IF a mobile was purchased IMMEADIATLY and put on it. They would loan 80% on the appraised value of EACH, sepertely. The higher the appraised value was against the actual asking price, the closer to nothing down, or little. I could get in the loan.

I likely owe close to $100 000 on the place now. I owed $97 around 5yrs ago. Places arent selling to alful fast here. The 2nd place S of me has been on the mkt around 1 1/2yrs. The place S of me has been on, for around 4 mos. They both have new houses on them.

...................I thiMk you were having better luck chasing wimmin's down in the singles section , than askin'um for advise up heah in the 'logical thinkers' section !!! , fordy

LOL lol.

AND Joshie. As to wind, hail, and storms at night. I have to carry insurance for the full term of the note 30yrs.

You have been paying thirty years and still owe that kind of money. Gee I will sell you a farm I would love it.

Naw give us single women more credit then THAT

Have you asked if the banks make the type of loan you want or have you sat down with the banker and been pre-approved for the loan. There is a big difference. It is going to be very hard to get a loan for land with or without a house if you still owe a lot of money on another mortgage. If you are behind or your current place, I would think it would be impossible to get a loan.

I HAVE BEEN PREAPPROVED WITH A BANKER FOR AROUND $60 000. Current place is owned by an individual. I have a good credit rateing. 628 I think.