Are there any limits on acreage for a Reverse Mortgage? Borrower has 166 acres. It was used as a buffalo ranch but all of the buffalo have been sold.
We do not have a specific acreage limitation, however, property must be highest and best use as residential. With this much acreage it is a question mark if it is really primarily residential in nature. It must also be compared to similar properties with like acreage to support this is common for the market. Of course nothing in file should reflect this is income producing at all.