Any mortgage lending experts out there?

spikethebest

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I am trying to get a 5 acre ranch that has 2 buildings on it. They arent attached, so not a duplex. I have the 10% down, maybe even 15%, but definitely not 20%.

The asking price exceeds the FHA and VA amounts allowed.

Anyone know of any lenders/banks/brokers that would do 10-15% down? I have excellent credit and proven income. This would be the primary residence, and we have renters lined up for the 2nd building.

Or

Anyone know of any private investor individuals that would want to make a great return on investment in a beautiful 5 acre ranch in Los Angeles? I would give them 25 hours of free flight time in my airplane as a thank you (on top of the interest and profit sharing they would receive, for investing in the ranch).

Thank you!
Cory
661-312-6311
 

tortadise

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If your almost to 15% have you tried USDA? Especially being property. Is it in city limits or ETJ county? If it is then I'd go that route. Or try and get to 20% and go conventional.
 

tortadise

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USDA loan. It's for rural purchases. ETJ is Eventual Territorial Jurisdiction. It's when a property is in county but not in any city limits. Sometimes in territory of multiple cities. Until it's annexed into whichever city then that property becomes part of whichever city annexes it. SO if it's in county and not in city limits, your golden for USDA loan. Which is usually 0.00 down, so if you have good percentage that may be your best option, If it's in county and not city limits. Your lender will be able to tell you if it qualifies.

http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do
 

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