Palomar Mountain News

“Buy land”, Mark Twain said, “they aren’t making any more of this stuff!”

After 18 years as a Realtor, I honestly don’t remember one time a client secured a loan for a purchase vacant land – until recently.  Vacant land had always been cash, or a rare, seller carry-back situation. Several clients have tried loan options, but I can’t think of any working out.

What a surprise when this new-to-me lender funded and closed!  The buyer actually had the contact for his lender.  I was very skeptical.  Vacant land, no well, no structures at all, nothing on the property but trees, a few deer and lots of birds.

Everything was so smooth for the transaction.  There were a few conditions that were surprisingly, very reasonable.  The lender was very responsive with frequent updates, so professional and a pleasure to deal with.

I can not keep him a secret and must share his contact info with all you!

Thinking of a re-fi? Give Matt a call.  Like to have a loan for a cabin, home or ranch anywhere in California, Oregon, Idaho and Washington? Matt is glad to assist.

Looking at vacant land? Here are the requirements:

25% cash down, 6 months reserves, Credit score of 680 or higher.  If no well, cert letter from a driller. No septic? perk test required.  If the land is off the grid, it would need 35% down.

Matt can get your questions answered for all things in the lending world:

Matt Towery, VP-California Regional Production Manager

951-400-2216   Email Matt    NMLS# 276667

And, I’m glad to get your questions answered for all things in the Real Estate world!

Let’s work together to make those dreams come true!

Thank you,

Bonnie Phelps