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| Name: |
Dinky
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| Subject: |
Mortgages
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Date:
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11/7/2008 11:28:52 AM
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I am curious to know if there are mortgage companies that will make a loan on a house on APC leased land? I know that Aliant Bank does a lot of it because of their obvious connection to Russell Lands. But what I wondered was if there was anything else out there?
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| Name: |
John C
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| Subject: |
Mortgages
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Date:
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11/8/2008 12:35:38 AM
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Dinky-
So far in 2008 3 of my real estate sales have been APC leased lot homes. None of the buyers were financed by Aliant, so to answer your question, there are plenty of other banks that will loan on them.
That being said, it is ***tremendously*** easier to deal with a bank that has financed one before. And Aliant does most of them, so they are very comfortable with it. I recommend that people get quotes from 3 banks that have done one before, and talk to 3 closing agents that have closed one before.
But I guess that's the same advice I give on any transaction.
See the below link to my blog to some more info on leased lot homes. If you would like more info on mortgage recommendations on deeded or leased lot homes, feel free to email or call me.
URL: 5 Questions and Answers On Leased Lot Homes
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