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Question: How much down would i need to buy a 198,000 dollar peice of rural land in lincoln county oregon?

(Posted by: on 2011-11-28 13:15:09)

And yes i have bad credit

Posted by: Jef on 2011-11-28, 13:58:06

Varies by lender. Your hardest part isn't going to be just your credit, but the following: a) Rural b) Land Both of those are going to be tough sells to a lender. Land is harder to collateralize because ... it's land. You borrower $150k for a chunk of land, and you decide you don't want it any more. Since it's LAND and not a house, you can just walk, and now your lender has to find someone else who wants plain old land. That it's rural makes it even more difficult to sell.