Tony,
It does sound as though you are using an FHA or USDA loan. If you can possibly choose a local bank as your lender and attempt conventional financing, that would work best for you to purchase this home. There are some banks in the Mt. Orab, Georgetown and Ripley areas that will still finance property such as you have found. Farm Credit is a good option as well. If you would like, email me and I will try to help you.

Tony there are not stipulations on how much land but with your loan there very well may be stipulations on the habitabilityof the home. If you are using a FHA 203b like most buyers the dwelling has to be in move in condition. If you using a USDA loan the requirements are about the same with a couple of extra requirements. In the Mt orab I would use a USDA loan as there is no monthly MI. Here is a link to the USDA requirements on a property. You can use that as a check list on properties that you are interested in.

http://www.rurdev.usda.gov/id/5-0_Existing.pdf

Good Luck

No Tony as long as you can afford it.Ur lender should of gave you a amt. So you cant go over,what ever that # was.Are we clear as mud tony?ha but thats what I think ur telling me,unless you can give me more info.

Thx,

TJ