Credit Union FHA Loan Process?

[Aaron Phillips]

Hello BP,

I’m currently residing in WV but there is an acre of land back in my hometown of the Greater Cincinnati area that I plan on buying and developing on later in an upcoming area. The plan is to put an offer on the land and getting financed through my Credit Union for the land. The Credit Union I use is in West Virginia and I have been with them for awhile. That’s where my Savings account is, Car Loan, and Credit Card. I have perfect payment history with them.

Will that Credit Union be able to finance a piece of land that’s in a different state? The plot that I plan on purchasing if they accept my offer, I will be walking into positive equity due to it being valued at more than the purchase price (providing they accept the offer I plan on giving).

If anyone has experience with this, your advice is greatly appreciated! Thank you.