Can I get a mortgage for a property with agricultural land in Oregon?

@ethelyn_hansen  Yes, it is possible to get a mortgage for a property that includes agricultural land in Oregon. However, there might be specific considerations and requirements due to the presence of agricultural land.

Here are a few points to consider:

1. Loan Type and Property Use: Some lenders might have specific loan programs or considerations for properties with agricultural land. The type of loan and its terms could depend on how much of the property is dedicated to agriculture, whether it's a primary residence, and what type of farming or agricultural activities will take place.
2. Zoning and Land Use Regulations: The property's zoning and local land use regulations might influence the type of mortgage you can obtain. Agricultural zoning or specific land use designations could impact the mortgage terms and eligibility.
3. Property Appraisal: Lenders typically conduct property appraisals to determine the property's value. In the case of properties with agricultural land, the appraisal might consider both the residential portion and the agricultural acreage. The value of the land for farming or agricultural purposes might not be considered for the mortgage loan, but it can influence the overall appraisal value.
4. Down Payment and Terms: The down payment requirements and loan terms might differ for properties with agricultural land. Lenders might require a larger down payment or have specific conditions due to the perceived risks associated with agricultural properties.
5. Income from Agriculture: If you plan to derive income from the agricultural activities on the property, lenders might consider this as part of your financial situation when assessing the mortgage application.

It's crucial to work with lenders or mortgage professionals who are familiar with financing properties with agricultural land in Oregon. They can guide you through the specific requirements, options available, and any potential limitations or considerations associated with obtaining a mortgage for such a property.

@ethelyn_hansen 

It is possible to get a mortgage for a property with agricultural land in Oregon. However, there are some specific considerations that you should be aware of:

1. Property Use: Lenders may have specific requirements for properties with agricultural land. They may consider the type of farming activities being conducted on the land and how it may impact the property's value.
2. Zoning and Regulations: The property's zoning and any local land use regulations may impact the lender's decision. Some lenders may have restrictions on the amount of acreage that can be used for agricultural purposes.
3. Property Appraisal: Lenders will consider the overall value of the property, including any agricultural land. The appraisal may take into account the potential income-generating capabilities of the agricultural land.
4. Down Payment and Terms: Lenders may require a larger down payment for properties with agricultural land. Loan terms and interest rates may also vary based on the perceived risks associated with agricultural properties.
5. Income from Agriculture: If you plan to derive income from the agricultural activities on the property, lenders may consider this as part of your financial situation when assessing the mortgage application.

It is important to work with a lender who is experienced in financing properties with agricultural land to ensure a smooth and successful mortgage process. Be sure to discuss your plans for the property and any farming activities you intend to undertake to ensure you are getting the right type of loan for your needs.