Thinking of Purchasing an Acreage?
What you need to know A common question we get when buyers are thinking of purchasing an acreage is do you need more than 5% down payment? The answer is no! The minimum down payment to purchase an acreage is the same as an urban home. You only need 5% to purchase an acreage. Acreages can however have their own special circumstances. These can make it different or a bit more complex than purchasing an urban dwelling. The lenders perspective When a lender is determining the value of an acreage property they will generally only take the value of the residence and the surrounding 10-15 acres. This can…