Rural Home & Acreage Financing FAQ
I want to finance a rural home or acreage. What's my first step?
First, know what you’re getting into. Our country living guide can fill you in on what you’ll want to consider when looking for your perfect rural property, like land surveys, utilities and zoning laws.
What types of rates and terms are available for rural home financing?
We offer variable-, fixed- and interim-fixed rate loans including rate conversions. We also offer flexible terms, including long-term options, to meet your specific needs, whether it’s land for new home construction, an existing rural home or a new home in a rural community. We also finance log, modular and manufactured homes without added fees or restrictions.
What if I'm building a new rural home?
FCSAmerica makes financing new home construction in rural areas simple. With us, you can purchase any size lot up to five years before starting construction and use the equity to help finance the home you build. We also offer a one-time closing that saves time, closing costs and the risk of changing interest rates. Our home financing experts will be with you every step of the way from lot purchase through home construction to your final mortgage.
How long does the home loan process take?
Generally, the whole home loan process – application to closing – takes approximately 45-60 days. Our local country home loan experts will work with you through the entire application process to closing – and then through the life of the loan.
Can any lender finance a rural home or property?
Rural home and property financing is different from urban financing. Urban lenders may have difficulty assessing the value of outbuildings, cropland, timber, septic systems and other rural features, for example, causing unwanted delays. FCSAmerica has unsurpassed expertise in country home and real estate financing – we make the process simple.
What's a primary market lender and why does it matter?
As a primary market lender, FCSAmerica retains ownership and service through the life of your loan. We won’t sell your mortgage to a secondary lender or change any terms such as grace periods and fees. It also means you may not have to carry expensive mortgage insurance or an escrow account.
Rural Home & Acreage Financing Videos
Learn more about rural home and property financing by viewing one of our country home loan videos. Topics range from choosing lenders, purchase and construction, rural differences and more. Use the menu in the upper left corner of the video to browse the playlist.
Agricultural Land Financing FAQ
What types of rates and terms are available for agricultural land financing?
We offer variable-, fixed-, interim-fixed and adjustable rate loans. We also offer ag-friendly terms, including long-term options, to help meet your specific financing needs.
What type of payment schedules do you offer for agricultural land financing?
You can choose monthly, quarterly, semiannual or annual payment schedules to meet your cash flow expectations. We also offer fully or partially amortized loans, and decreasing, even or accelerated payment schedules.
How long does it take to process a loan application?
We offer quick decisions on loan applications. Our average credit decision turnaround time is less than 10 days.
How long does it take to get appraisals completed?
We have an in-house certified appraisal team that completes appraisals for a competitive flat fee. The average appraisal time is less than two weeks.
What about loan fees?
We have no application or origination fees.* We also offer loans with no prepayment penalties after the first year.
*Does not apply to construction loans.
What should I look for in a rural lender?
Choose a lender who is knowledgeable and experienced in financing agricultural land. An experienced rural lender can offer advice on agricultural-use tax exemptions, environmental factors and insurance sources that an urban or out-of-state lender might not. Our experienced local financing teams are highly specialized and will work with you to determine the best loan for your farm or ranch.
What's a primary market lender and why does it matter?
As a primary market lender, FCSAmerica retains ownership and service through the life of your loan. We won’t sell your loan to a secondary lender or change any terms such as grace periods and fees.
About Farm Credit Services of America
Who is Farm Credit Services of America?
Farm Credit Services of America is a customer-owned financial cooperative dedicated to serving the credit, risk management and financial needs of farmers, ranchers and rural residents in Iowa, Nebraska, South Dakota and Wyoming. Owned by more than 50,000 stockholders, FCSAmerica has 42 local retail offices throughout the four-state area. Learn more at fcsamerica.com.
What does FCSAmerica finance?
In addition to serving the credit and risk management needs of farmers and ranchers, we finance and refinance agricultural land, acreages, country homes (including new construction), and homes located in rural subdivisions or communities with populations of 2,500 or fewer residents. If you farm or ranch, you may also qualify for home financing in a larger town or city.
How can I benefit from financing with FCSAmerica?
Agriculture and rural financing is all we do. Along with our attractive rates, unusually flexible terms and cash-back dividends, our financial and lending officers have an unsurpassed expertise and understanding of the unique aspects of rural property financing.
What does it mean to be a customer-owner of FCSAmerica?
When you finance with FCSAmerica, you become a customer-owner. That means, along with attractive rates and terms, eligible customer-owners can get cash-back dividends, a unique opportunity to share in our net earnings. We have paid more than $1 billion in cash-back dividends since 2004. Learn more about cash-back dividends.