EXPANDED PROPERTY TYPES: Unlimited acreage – there is no limit to the size of a property.
Hobby Farms – a property that has an income producing element to it may still be considered a residential property. So, even though there is income from the property on the tax returns, we will still underwrite it as a residential loan as long as the income produced by the property is reasonable and not the primary source of income for the borrower. We’ll also allow the borrower to use the income from the property to qualify for the loan.
Examples include properties with avocado trees, vineyards, orchards, horses, etc.
