RuraLiving Home Mortgage Program
It’s all about you, and your commitment to living in the country.
First National Bank appreciates the unique qualities of rural American living. We offer a program that provides long-term financing for properties with larger acreages and outbuildings. Our RuraLiving® Home Mortgage program exemplifies competitive pricing and effective products designed specifically for country home living.
RuraLiving® Home Mortgage Program Providing Valuable Benefits*
- A solution created specifically for non-conventional properties
- A unique opportunity to lock in long-term financing and a fixed rate
- Finance one note and mortgage for the entire acreage and home
- Competitive pricing structure
- A dedicated and experienced team guiding you through a simple and convenient process
Refinance Benefits Include
- Effectively manage your personal finance goals
- Reduce monthly payments
- Improve cash flow
- Lock in a long-term fixed rate to secure future financial expectations
What type of properties qualify?
The RuraLiving program is dedicated to providing long-term financing for non-conventional secondary market hobby farm properties, with agricultural characteristics.
Eligible
- Primary residence and owner occupied
- Home and property in good condition with no deferred maintenance or incomplete construction
- Properties generally range from 5-160 acres
- Property has the reasonable capability of generating $500 of annual agricultural income
- The borrower’s primary business/vacation is typically something other than farming
- Home value should comprise of approximately 30% of the overall property value
Non-eligible
- Full-time farming operation or a property with a large number of livestock
- Second homes
- Townhome, duplex or planned unit development
- Manufactured homes
- Mobile Homes
- Unique homes (shed, dome, berm, cabins, log homes)
- Investment properties
Eligible Hobby Farm Property Examples
56-Acre Hobby Farm
- Primary residence and owner occupied
- Potential for ag income derived from animal shelter, barn, horse facility and pasture land.
10-Acre Hobby Farm
- Primary residence and owner occupied
- Potential for ag income derived from crop acreage
75-Acre Hobby Farm
- Primary residence and owner occupied, with an additional guest home and barn
- A combination of acreage including both open and wooded land
27-Acre Hobby Farm
- Primary residence and owner occupied
- Borrower has full-time, non-farm employment
- 14 tillable acres, leased to local farmer
Visit with one of our Mortgage Loan Experts to learn about out RuraLiving Home Mortgage Program