Tips for Buying Property with a Rural Home Loan
There are countless reasons for an individual or a family to leave the city and relocate to a rural setting. Are you looking for community, privacy, safety, or access to outdoor recreation? If so, rural living is a quick and easy route to achieving your dream lifestyle.
For many people, the only challenging factor is the hefty price tag tag that comes along with most rural properties. Thankfully, that’s precisely where MSF Agriculture’s rural home loans can step in to help. By working through our reputable lending service to secure a loan, your dream of rural living is now closer than ever.
In this article, we’ll break down everything that you need to know about buying a property through a rural home loan.
Where to Start in Your Search for a Rural Home Loan
When setting out to find a loan for a rural property, most people will go straight to the big name, conventional lenders. While that’s certainly an understandable impulse, it doesn’t always lead to the best results or the best value.
Going through a conventional lender can often make it difficult to refinance your loan down the line. Here are just a few of the technicalities that many conventional lenders will cite as a reason to not refinance your loan:
- Schedule F income
- Ag-exempt status
- Acreage limitations
- Home to land value ratio
- Manufactured housing
- Ag zoning
Many property owners who go through conventional lenders only learn about these restrictions after they’ve received a loan. By that point, it’s too late to switch to a more practical and affordable option.
MSF Agriculture’s Rural Home Loan Process
By contrast, MSF Agriculture’s rural home loans are specifically and carefully designed with the needs of homeowners in mind. Our deep knowledge of the rural housing market allows us to pair buyers with loans that are catered to their means. This, above all else, is what sets us apart from the more traditional models of lending and financing.
Start Shopping for a Rural Home Loan Today!
At MSF Agriculture, our goal is to understand your personal rural living goals in order to help you and your family find the perfect loan. We’re passionate about making the process as simple as possible to make your dream rural property a reality. To get started in your search for a rural home loan, contact our office today!