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Need some help

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Anonymous
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Need some help

I am going to be ready to apply for a mortgage by mid April, but have some questions. I am currently wanting to purchase approx 100 acres in western Texas and put a new modular (not manufactured) home on it. I qualify for VA and USDA Guaranteed loans, credit score around the 640 mark. Is this something that is possible? I have heard that the acreage amount will not qualify. Any suggestions?
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DallasLoanGuy
Super Contributor

Re: Need some help

you can try to get a texas vet land loan

as for the house, that would have to be a chattel loan i guess.

 

land will likely be worth far more than house. so a traditional mortgage is unlikely

 

Retired Lender
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