Too much land?

Ridgefarmer63 · 02-02-2012, 01:42 PM

Get a load of this....We have always thought it would be nice to own Winni front. Or perhaps even just rent for a period of time so we are trying to free up funds. We have a mortgage rate in the mid 5's on our farm, so I thought it would be a good idea to re-fi. NOT SO FAST. Since we have too much excess land, we do not fit into the mortgage lenders "box". Our ratios are great, plenty of equity left, beautiful home on a professionally managed forest (Forest Management Plan done). I have tried two or three lenders and when they hear 115 plus acres they so no. We have to pay a rate that's 2-3 % higher.

A lot of smart people on this forum, any constructive suggestions would be appreciated.

Help, before my %$#@in' head explodes.

02-02-2012, 01:42 PM	#1
Ridgefarmer63 Member Join Date: Feb 2011 Location: New Durham, NH Posts: 39 Thanks: 23 Thanked 3 Times in 3 Posts	Too much land? Get a load of this....We have always thought it would be nice to own Winni front. Or perhaps even just rent for a period of time so we are trying to free up funds. We have a mortgage rate in the mid 5's on our farm, so I thought it would be a good idea to re-fi. NOT SO FAST. Since we have too much excess land, we do not fit into the mortgage lenders "box". Our ratios are great, plenty of equity left, beautiful home on a professionally managed forest (Forest Management Plan done). I have tried two or three lenders and when they hear 115 plus acres they so no. We have to pay a rate that's 2-3 % higher. A lot of smart people on this forum, any constructive suggestions would be appreciated. Help, before my %$#@in' head explodes.