Expect a higher interest rate than on a 30 year fixed traditional mortgage loan for a primary residence. Lenders know that you are a homeowner and will be adding to your debt burden. Thus, the lender views you as a riskier loan, the risk factor will cost you a interest rate percentage point or two.
Legal Lot of Record FAQ
Not all tax lots are legal “lots of record.” Deschutes County will not issue any permits on a lot or parcel until it is determined that it is a legal lot of record. If your parcel is not in an approved subdivision or partition, or if your parcel has never been determined to be a lot of record, you will need to file an application for a lot of record verification.