THIS PRODUCT IS SPECIFICALLY CREATED FOR BORROWERS WHO ARE UNABLE TO RECEIVE APPROVALS FROM TRADITIONAL LENDERS FOR VACANT LAND
MAXIMUM TERM | 20 YEAR LOAN |
DOWN PAYMENT MINIMUM | 35% DOWN PAYMENT | NO EXCEPTIONS |
TYPE | PURCHASE ONLY |
DOCUMENTATION REQUIREMENT | TRADITIONAL MORTGAGE DOCUMENT REQUIREMENTS OR BANK STATEMENT ONLY TO PROVE INCOME OR PROFIT AND LOSS STATEMENT |
CREDIT SCORE REQUIREMENT | 660 MINIMUM FICO SCORE |
COSIGNOR | ALLOWED |
LOAN AMOUNT REQUIREMENTS | MINIMUM LOAN AMOUNT = $100,000 MAXIMUM LOAN AMOUNT = $825,000 (MINIMUM PURCHASE PRICE $154,000) |
ZONING | ALLOWED: residential, recreational or agricultural use, income producing zoning / properties are permitted.
NOT ALLOWED: commercial or industrial or properties adjacent to environmental hazards |
ACREAGE | There are no maximum acreage limitations whether vacant land or residence with acreage. |
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