land value versus home value: Land Value versus Home Value
- 11/27/12 06:11 AM
With all of the “deals” we are hearing about these days, I guess it’s not surprising that people are finding homes with large tracts of land associated with them. In general, the ratio of “land value” versus “home value” needs to be less than 30%. This goes for FHA loans, VA loans – Conventional loans, USDA Loans… underwriters are going to look at the appraisal, and if the land is worth more than 1/3 of the total sales price, it won’t work for our Bank.
The Bank takes the position that if the total Sales price is $100,000 and the … (0 comments)
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