tillage-director - 10/20/2018 23:16 It's because they think that just because it's rural it can be used to produce income. I just bought a place similar to what you describe and that's what they told me. Said it's even worse if there is a barn or something. The place I bought is 16 acres of mostly trees and grass with an old house and a small she'd. I argued that if you can produce income from a property they should give you a rate cut because you'd have more cash to pay it back. Unfortunately that's not how banks think It's Not a bank thing . . . . it's federal regulation for bankers. Bankers have to follow the regulations. All due from the farm crises in the 80's . . . . . . . Considered more risky and harder to collect if default happens - so, cost more to process and maintain, hence higher interest rate.. | 
Have home interest rates gone up a lot?
