The document provides guidelines for rural property loans from Indymac and land value ratios and affordability guidelines from Saxon Mortgage. For Indymac rural loans, the maximum loan-to-value (LTV) and combined loan-to-value (CLTV) decreases as the number of acres increases, with over 50 acres not permitted. Saxon Mortgage typically limits land value to 35% of the appraised property value, but allows higher percentages in certain states if customary for the area. Saxon also provides debt-to-income ratio limits that increase with higher income levels, up to 55% for incomes over $5,560, and minimum required disposable income amounts that increase with higher LTV and DTI ratios.

1. Indymac Rural Property
Indymac Alt-A
Number of Acres Max LTV & CLTV
20.01 - 30 75%
30.01 - 40 70%
40.01 - 50 65%
> 50 Not Permitted
Indymac NonPrime Loans
Number of Acres Max LTV & CLTV
10.01 - 20 70%
> 20 Not Permitted

2. Saxon Mortgage Land Value Ratios
Typically, land should not exceed 35%
of the appraised value of the property
Up to 80%, providing it is
California, Connecticut,
typical and customary for
New York
the area
Up to 50%, providing it is
Florida typical and customary for
the area
Up to 35%, providing it is
All other states typical and customary for
the area

3. Saxon Mortgage Affordability Guidelines
Gross Monthly Income Maximum Debt To
Per Household Income Ratio
Up to $1,000 40%
$1,000 to $1,500 45%
$1,501 to $5,559 50%
$5,560 and above 55%*
*Not available on all products. Refer to matrices for maximums allowed

4. Saxon Mortgage Disposable Income
Minimum
LTV DTI Disposable
Income
0-70 0-50 $1,000
0-70 50.01-55 $1,500
70.01-90 0-45 $1,000
70.01-90 45.01-50 $1,500
70.01-90 50.01-55 $2,000
90.01-100 0-45 $1,000
90.01-100 45.01-50 $1,500
90.01-100 50.01-55 $2,500