I’m looking at a plot of land in Arkansas. I was originally looking for raw land that I could improve and or this I was expecting to buy it on a land contract. But I found a lot that is raw land with electricity, water and septic because there is a broke-ass (but might be technically habitable) on it. Would this then make it eligible for a conventional mortgage?
Also, would it be necessary or advisable to get the loan through an Arkansas bank rather than my credit union?