Many people like to purchase homes with acreage so they are not close to neighbors. Some homeowners have over 20 acres and are having difficulty getting financing on first or second-mortgage loans. Working on a case now where my client has a home on 81 acres, and there is not a single non-QM wholesale lender that will touch this property due to the large acreage the home sits on. The Veterans Affairs Administration will allow VA loans on large acreage if the property is not a working farm. In this thread, I like to go over financing a home that sits on acreage, what a working farm is, what the definition of a hobby farm is, and the loan options homeowners who want to buy or refinance on a home with acreage have. Luckily, I have a super cool client who is working with me on getting these obstacles answered. I have not yet encountered a single wholesale lender who will finance a first or second mortgage on homes larger than 10 acres.

Hello Everybody on GCA!

I wanted to create a discussion regarding all Questions & Concerns regarding all NON-QM products.

I am Sales Account Executive & I will be going through Generics & specifics on guidelines & also details to pay attention to with your loan process as Broker, Client, AE & Agent.

Will be also posting FAQ’s as well.

Please feel free to reply with any comments 🙂

I look Forward to hearing all your thoughts!

Thank you!

Cameron Leclair

theLender-Your-Non-QM-Lender.pdf 3 MB PDF - Click to view

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