HOMES COME IN ALL SHAPES AND SIZES, SO DO OUR LOANS
Being the rural experts means we live out here too. Unlike other lenders, we have an in-depth understanding of modular home financing and construction. Modular homes are residential structures constructed off-site, transported, and placed on a permanent foundation. Once assembled, they must comply with federal standards, ensuring quality and safety.
Our financing options let you use the equity in your land, not just a portion, to meet the equity requirements for building. This flexibility sets us apart from other lenders who may restrict equity to a limited number of acres, allowing you to embrace rural living without the burden of larger down payments.
Tailored lending options.
During the construction process you have the option to lock in your loan with one of our adjustable or fully fixed-rate financing options. We offer our customers additional rate flexibility by providing loan conversion* options.
Closing costs—paying once is enough.
Rural 1st lets you simply roll your construction loan into a permanent home loan.* Other lenders require you to take out a construction loan and then refinance into a regular mortgage.
Get the maximum value from your lot.
We allow the land you're building on—rather than only the dwelling value—to be used as equity for your down payment. This maximizes your construction financing.
A simple tool to manage your build.
Seamlessly manage draws, inspections, and track your progress all in one place. You, your contractor, and your Rural 1st team can monitor the project together in real time.
*Provided that eligibility requirements are met. Conversion has a one-time fee of $750.00. Terms and Conditions may apply. The fee is subject to change without notice.
