April 29, 2025
If you’re looking for space, privacy, and flexibility without losing access to city life, buying an acreage might be a smart move—especially if you already have a 20% down payment. Acreages often offer far more land, bigger homes, and a better lifestyle than similarly priced city properties. They also have strong long-term potential for appreciation, particularly if located within 30–60 minutes of a growing city.
Having 20% down is critical because many lenders limit financing on rural properties. Some won't lend on acreages over 10 acres, homes on private roads, or properties with shared wells and septic systems. Appraisals and inspections are also stricter. Sticking to residential-use acreages with reliable access, potable water, and an approved septic system greatly improves your chances of mortgage approval.
The mortgage process for acreages is different from buying a house in town. Lender options are fewer, appraisals are more detailed, and extra conditions like water potability tests are often required. This is why working with a mortgage broker is a major advantage. Brokers can access multiple lenders, including those that specialize in rural properties, while a bank can only offer you their limited internal options. A broker can save you time, negotiate better rates, and make sure you aren't stuck scrambling if your bank says no late in the deal.
If you have a 20% down payment, an acreage can offer freedom, investment upside, and a great lifestyle. Just make sure you’re working with professionals who understand the rural mortgage process, so your dream of country living doesn’t turn into an unexpected hurdle.
Source: Absolute Mortgage Team