Latestarter's ramblings/musings/gripes and grumbles.

[babsbag]

I would tell him to come to CA and help with a dairy but if he dislikes CO he would hate CA so I know that isn't going to happen. There is land for sale to the left of me and to the right of me.

 

[Latestarter]

Thanks all... You guys are "killin'" me here OK... since y'all are focused on gettin' me to TX (and now CA even)... a couple other things to keep in mind... I and my kids like to shoot, so the land has to be situated so my high powered rifle rounds (largest being a .300 Weatherby magnum) aren't going to be cutting across someone else's pasture, disturbing them or their livestock, or have me explaining myself to the local constabulary every time I decide to do target practice... I'm sure you can understand. I don't want to have to pay to go to a range every time I want to shoot.

Also I'm pretty partial to the taste of deer meat and wouldn't mind hunting some feral hogs on my own property as well, if at all possible. Also, I really (really!) need to keep the purchase price under $160K unless there's like a producing oil well or gold mine in the back yard (mineral rights to convey with sale). And finally, the place has to have a home on it (that preferably will qualify for VA financing) as I can't afford a "land" loan (terms are too steep and short term).

So yeah, living within easy reach of a "community" is something good, however, the price of land is much higher the closer you get to community, and I really am starting to become pretty anti-social... Hermit might be a nice descriptor... You folks on here (believe it or not) are closer "friends" than anyone I interact with here in real life aside from my kids and their families. It kinda sucks when your online friends are more important than your real life neighbors, but for the most part, you can't pick your neighbors... We really have become a digital world. and people today scare me... life used to be so simple, straight forward and care free. What the hell happened? Oh, yeah, that's right, military industrial complex and big money in government.

I know... a lot to ask for...

Hey Babs, thanks for chiming in. Actually, I love the weather and country here in CO, and I love a great portion of CA (the state) as well. The land & climate really are quite nice (and similar here and) there and being within a few hours drive of ocean and mountains is a big deal (a HUGE deal!). I'd love the ability to have easy access to both. However... the politics and costs associated with those politics rule CA out completely for me. I simply can't afford those costs and can't abide by the politics. But then, you already knew that Otherwise, I think it would be great to be near enough to help with your dairy adventure. (thinking perpetual cheap milk and cheese... with very little of the work involved with producing same ) Oh, and can I borrow your tractor for a couple of hours? Fair trade if I help you out around your place a bit?

OK... anyway, time to catch up on the other threads, then hopefully get some sleep.

 

[babsbag]

Yeah, the politics in CA stink most of the time but been here all my life so you just get used to it and roll with it the best you can, and move farther away from the big cities. I love our weather and having the ocean and mountains so close is an added plus, but for me it really IS the weather. I love sun and dry summers so this is for me. But...rain in the winter would be helpful.

Sure you can borrow my tractor, but she needs to be back by curfew...midnight I have a compact John Deere and a walk behind Bobcat, which one do you need?

Can you get a manufactured home installed with a VA loan? I know my mom lives in one with a VA loan but it was already installed when they bought it.

 

[Latestarter]

I'm in a 25 year old manufactured home right now financed by VA. Main issue is you can't get the finished VA financing until the home is installed/anchored on a permanent concrete piling(pier)/slab/basement; foundation, completely enclosed and weather tight (not skirting), with wheels completely removed and gone. Until then, you need a construction loan. Many manufactured home producers offer factory financing for the home, but not on any sizeable property. Basically, they (home maker) won't finance the property, just the home for a short time until it gets installed and you can get finished mortgage financing to pay them back. I could buy a property with a manufactured home on it as my primary residence, as long as it meets VA requirements ie, the foundation... Otherwise, I'd have to seek local bank financing at much higher costs/rates. Many consider manufactured homes as trailers (which in fact they are, for all intents and purposes), and therefore are vehicles, not "homes" and financed similarly. Been out of the mortgage industry for a few years now... not sure how much has changed and to what degree.

One other stipulation is the VA will not finance a manufactured home if it was installed in one place then moved to another. It has to have gone from factory to final destination where you're buying it. The VA also has a requirement that the home be hooked up to city water and permanent septic (they read as city sewer, but I believe an approved septic system is acceptable). So if the home is on a well, I don't know Oh, and as an aside, since the VA is a govt organization, there is no consistency and they approve a loan for one person with a certain condition, and disapprove another with the same... again,

In my youth I unhesitatingly stated I would never live in a trailer... back then, "trailers" were where "trash" lived and they weren't built anywhere near today's standards. I stand by that statement WRT trailers older than 25 years. I would have no problem purchasing and living in a modern manufactured home. However, having lived in stick built as well as manufactured homes, I will categorically say that the manufactured homes are nowhere near the quality and strength of structure as stick built. Because they are built on axles with wheels and have to travel over the roads to their destinations, they have to be constructed with much lighter materials. They also have to be somewhat flexible to handle the bumps and stresses of traveling over the road. They simply aren't as "heavy" and strong as a stick built home, built on site. They are also a lot more difficult to remodel or do modifications to.

If I could find the ideal property, it would have a manufactured home at the front of the property that I could turn into a rental or potentially subdivide off and sell after building my permanent home on the larger part of the property further back.

 

[OneFineAcre]

Banks make a distinction between modular and manufactured.
They will make a construction to permanent loan on modular.
However, many banks will not finance more than 5 acres as a conventional mortgage. Too much risk on the value of the land.
I'm also a member of the NC State Employees Credit Union. They will do a construction to perm on a modular on up to 10 acres. I think other credit unions will as well and maybe smaller community banks.
Rates are still so good right now you can get less than 4% without going VA.

 

[Latestarter]

Oh, and as an aside, since the VA is a govt organization, there is no consistency and they approve a loan for one person with a certain condition, and disapprove another with the same... again,

Just to clarify this... the VA doesn't approve/disapprove any loan. The LENDER decides how to interpret the VA guidelines and THEY approve or deny the loan based on their ability to bundle the loan once done (along with hundreds of others) and sell in the investment marketplace. If they are worried that the potential future investor might go through and actually look at the loans they are investing in, and have questions about the "soundness" of the loan, then they will deny it based on their inability to sell it. Some lenders (mine; Navy Federal CU) lend their own funds and never sell the loans they make, so basically only care that the loan meets the basic VA guidelines to be insured against default by the VA. They don't need to "read into" the guidelines and be overly strict with rule interpretations. They are also able to base the loan on the borrowers history with them and I've been with them for a long time.

One of the primary reasons I want to stick with VA financing is because I am a disabled vet and therefore don't have to pay any VA funding fee, I get a lower rate on a 30 year fixed than is available with virtually any conventional financing, regardless of source (bank/ CU) and with fixed fees that the lender can NOT add to with additional junk fees. And the biggie... with a VA loan, they don't particularly care how many acres are with the property... they care about the liveability of the home being purchased. The home must pass a VA home inspection.

VA rate right now at my CU on a 30 yr fixed is 3.00% with .875 discount points and no origination fee. APR of 3.312. The rate on my present 30yr loan is 3.75%.

 

[babsbag]

I live in a manufactured home on 5 acres, had it installed in 2007 and just refinanced it with FHA. We have 2x6 construction with 9' ceilings throughout, a 6/12 pitched roof, granite counter tops, laminate floors, wood stove, central air and heat...I don't think we would flex very well. This thing is built as well as the stick houses I have lived in, I have no complaints. It is on a permanent foundation and if I were to take off the HUD tags you would never know it was brought in on wheels.

When we bought our home we already owned the land outright so it was a little easier. The company just fronted the cost until is was in place and then a bank took over and used the land value as our down payment. That part of buying this was incredibly easy, but as I said, we owned the land.

The refi was a pain in the neck and you are right, every bank interrupts the requirements differently but I finally found the right bank. Good luck in your search.

 

[animalmom]

@Latestarter, let's chat suitable and safe shooting ranged on a piece of property. You may luck into a piece that has a nice hill that is conveniently situated so you don't have the sun in your eyes, or you may luck out and find a natural hollow on the property that would act as your backstop.

Or you could do what we did which was build our own berm. We wanted a second stock tank anyway and at the time knew someone who did very heavy construction so voila, as they say. The gentleman came out with one of his company's bulldozers and made a 14' tall crescent shaped berm with what he dug out for the tank. Works real well for the rifle and shotgun range. My DH even has a 100 yard position set up that backstops at the berm.

I applaud you for being a responsible shooter and keeping shooting safety in mind. A rifle range is much better with a substantial dirt backstop, but a little out of the box brainstorming is always good. When we start thinking about a new project we start out with what we want with all the possible goodies we would ever want or image and then beat that against what we CAN do and what we would need someone to do. The day you stop dreaming my man is the day you start to die.

 

[OneFineAcre]

@Latestarter, let's chat suitable and safe shooting ranged on a piece of property. You may luck into a piece that has a nice hill that is conveniently situated so you don't have the sun in your eyes, or you may luck out and find a natural hollow on the property that would act as your backstop.

Or you could do what we did which was build our own berm. We wanted a second stock tank anyway and at the time knew someone who did very heavy construction so voila, as they say. The gentleman came out with one of his company's bulldozers and made a 14' tall crescent shaped berm with what he dug out for the tank. Works real well for the rifle and shotgun range. My DH even has a 100 yard position set up that backstops at the berm.

I applaud you for being a responsible shooter and keeping shooting safety in mind. A rifle range is much better with a substantial dirt backstop, but a little out of the box brainstorming is always good. When we start thinking about a new project we start out with what we want with all the possible goodies we would ever want or image and then beat that against what we CAN do and what we would need someone to do. The day you stop dreaming my man is the day you start to die.

I used to belong to a hunting club and we had a man made berm for our shooting range.

 

[Latestarter]

Thanks folks! GMTA! I had every intention of doing exactly that... building a berm as a backstop, but I STILL wouldn't want to be shooting in the direction of another farm/family/pasture/etc if it could be at all avoided. So hopefully there will be some nice dense timber/woods behind the berm to further act as a bullet stop