Hi, does anyone Vendor Finance deposits or 2nd mortgage on Acreage Property?
Im looking for someone who will.The story..
My partner will be doing loan
Has clean credit
Has good employement history
Has good income $110k plusCan get home loan BUT…
For Acreage
Needs 20% deposit, as looking at property 160acreas, which cancels the LMI policy of 120acres max (which then requires 5% min deposit, but geniune savings)
Have a small deposit, but gift.
Can get 25 acre property loan with 10% deposit, but too small for our liking.We are looking at a 160 ac property for $620k, we can do 10% deposit, but need the rest as Vendor Finance or 2nd mortgage. Postcode 4674….It is a lifestyle property, not income producing.
If we had too, we would look at different areas and smaller acreage, but not smaller than 40acres, otherwise, we’d just do the 25 acres, ourselves.
We would look at (if someone interested or can) the whole thing under Vendor Finance or we can get 80% loan and you do the rest?
Anyone able to assist?
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