DYK....on
contract for deed transactions, where you are building on your own land and if
you have owned the land <12 months, you must go off the cost of acquisition
of the land and not the value assigned by the appraiser, so this may hinder the
max allowable loan amount which you can use to finance.
Happy Selling!
Justin Perry
Sr. Underwriter
Gateway Mortgage Group
1255 W. 15th Street| Ste. 540|
972-908-3390 ext. 125| 918-392-8349 eFax
03/03/2010
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