Rural Home

Agri-One Financial has loans available to finance your rural home property. If you own or are purchasing a country home with acreage in a rural community, we have the product for you. Long-term fixed and adjustable rate loan products are available. Manufactured housing (doublewide or larger on a permanent foundation) financing is also available. We offer competitive rates and a variety of loan products to meet your financing needs. 

Key Criteria for Eligible Loans

  • Single-family, owner-occupied, detached primary residence located on the property 
  • Must be located in a rural area or municipality of 2,500 population or less
  • Loan to Value up to 80% with a maximum loan amount of $417,000 
  • Must have 20% of own funds down 
  • Dwelling value may not exceed $269,807
  • Typical contributory value of the dwelling should represent a minimum of 35% of the loan amount
  • Generally limited to properties no larger than 50 acres. Minimal or no farm income generated from the property
  • Maximum contributory value of farm type out buildings, fixtures such as barns, arenas and fencing or permanent plantings may not exceed 20% of the appraised value 
  • Acreage must be typical as supported by comps and property must be residential in nature
  • Appraisals for this program must be HVCC compliant

Customer Qualifications

  • Two years established employment and/or stable income 
  • Minimum credit score of 620 with no mortgage lates in the past 12 months
  • Minimum net worth of $50,000
  • Monthly Housing Expense and Income Ratio of 28% or less 
  • Monthly Debt to Gross Income Ratio of 36% or less 
  • Minimum cash reserves equal to two months PITI 
  • Flexibility in the above ratios with compensating factors such as excellent credit, substantial cash reserves or low loan to value 

Product Loans

  • Fixed rates: 10-year, 15-year, 20-year and 30-year 
  • Adjustable rates: 1-year, 3/1 and 5/1 with 5-year to 30-year term 
  • Adjustable rates: 10/1 and 15/1 with 15-year or 30-year term