in Jackson county it depends on the lands zone. if it is zoned WR you can only have one homesite per 25 arce. i am not sure of any other zone but i will find out about any other zoneing as soon as i can. if you have any more question please post them.... more
Why don't you speak to a local lender, they should be able to give you some help or refer you a reputale credit repair agency. The good ones will not ask you to pay up front but only after they are able to correct something. Good luck.
P.S. Love the area you live in, I lived just over the border in No. Calif.... more
Anytime you invest in your present, it should be done with respect to the possibilities in the future. Jackson County as with most counties are going to require permits eventually. To sell your home in the future with the buyer utiilizing the services of a lender you will need permits. At that point much of your building could be required to be pulled apart for viewing access and code confirmations.
Overall it is much more cost efficient to get the permits as the processes occur.
Living off the grid is a wonderful way to have a limited footprint, but in the interest of your future income from the sale you may want to wire the home, and just not connect with the power company, provide the components basicly without use, so that in the future someone who loves your home and the location but who is not as willing to live off the grid would purchase your home. Potentially more value added to home at the beginning with the future in mind.
Hope this is helpful. Thanks, Kat... more
- HomePath Financing is only for Fannie Mae foreclosed homes. FHA financing is for any home.
- FHA loans have both upfront mortgage insurance and monthly mortgage insurance. This adds about 1% to the loan amount and for every $100,000 you borrow it adds $95.83 a month to the principal and interest payment.
- HomePath loans have no mortgage insurance.
-Because HomePath has no mortgage insurance, Fannie Mae charges higher interest rates. The less you put down the higher the interest rate. FHA rates are the same regardless of how much you put as a down payment. So the more you have/want to put as a down payment the better you are with HomePath vs. FHA.
-FHA loans require an appraisal. This can frequently cause problems since FHA loans require the property to be in good condition prior to close. For this reason Fannie Mae and other sellers will frequently not accept FHA loan financing or it will be considered behind HomePath financing in terms of desirability.
-HomePath loans require a 660 middle credit score or higher
-FHA loans require 640 middle credit score or higher (Loans over $150,000 can go down to 580 credit score)
-HomePath loans have more strict guidelines on debt ratios. FHA will allow you to qualify for a higher purchase price than HomePath.
-HomePath loans require a minimum down of 3%
-FHA loans require 3.5%
Both loans are great, and either will make you happy. However, HomePath loans will give you a lower overall payment even though interest rates are higher than FHA. This is because FHA loans have very expensive mortgage insurance and HomePath loans donâ€™t. However, not all properties qualify for HomePath financing. Plus you may need the greater flexibility of FHA debt ratios and credit scores.... more
This is actually a question rather than an answer: Do property taxes apply to "patented" property? (ie; does the owner of patented property have to pay property taxes on it?)
Twenty acres with a house might be of interest to me, although I expect it is out of my price range (under $300,000), and is probably too isolated, has no utilities, etc; however, I have a nephew to whom this might not be a deterrent and who might be interested in "rough" land in an isolated area, especially if he doesn't have to pay property taxes on it.... more