Whether you want to purchase a rural home, farmhouse or commercial farm, ranch, vineyard, orchard, or more, AgAmerica.net can help.
Key Criteria for Rural Loans:
- Single-family, owner-occupied, detached primary residence located on the property.
- Must be located in a rural area or municipality with a population of 2,500 or less.
- Maximum loan-to-value of 97% with a maximum loan amount of $417,000.
- Dwelling value may not exceed $269,807.
- Private mortgage insurance required with loan-to-value greater than 80%.
- Typical contributory value of the dwelling should represent a minimum of 35% of the loan amount.
- Minimal farm income generated from the property allowed (no more than 25% of gross income). However, no farm income is required.
- As-is value of the outbuildings must not exceed 20% of the appraised value.
- Acreage must be typical as supported by comps and property must be residential in nature.
Key Criteria for Agricultural Loans:
- Max loan amount up to $30 million.
- Five-acre minimum, with no maximum acreage.
- Minimum credit score of 680.
- Monthly, semi-annual, or annual payments.
- 7-, 10-, 15-, 20-, and 30-year terms available.
- Executive Estates are eligible.
- Maximum loan-to-value ratios:
- 70% for loans up to and including $5 million.
- 60% for loans greater than $5 million.
For more information about rural-agricultural loans, including complete eligibility requirements, contact us today.
