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Sheldon, IA
3000 Park St
Sheldon, IA 51201

(712) 324-5371
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Rural Construction Loans

As a leader in construction loans, our team is here to support you throughout the construction process with helpful guidance and insights.

Everything you need to know before, during and after starting rural construction.

Rural construction comes with unique challenges. Because our loan officers are a part of the rural community, they truly understand your needs. Rural 1st offers construction loans to fit your project and keep your future mortgage in mind with a one-time close. We also allow you up to one year to complete your project to accommodate any weather or scheduling delays.

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What Can You do with a Construction Loan?

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Get the Full Value of Your Land

We acknowledge the equity in the land, its outbuildings, and any other site improvements towards the down payment on your construction loan. This equity has the potential to lower the amount you’d need to put down.

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Choose Your Builder

While other lenders may ask you to work with a builder they prefer, we let you choose your own. We simply ask that your builder meets our requirements to ensure a smooth process.

Why Finance With Rural 1st®

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Fixed rate financing

During the construction process, you have the option to lock in your loan with a fixed rate, when you’re ready.* If a lower rate becomes available, you can convert your loan through our Conversion Program every 12 months for a small conversion fee.**

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Finance your dream home

In addition to financing the construction of conventional-style homes, we also finance barndominium and log home builds, as well as remodel projects.

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Manage your build in one place

With our simple digital tool, you can manage draws, disbursements, inspections, and your project’s progression all in one place. You, your contractor, and your Rural 1st team can monitor the project together in real time.

*Variable to fixed rate conversions available once at least 75% of construction is complete.
**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.

Rural 1st® is a tradename and Rural 1st, the Rolling Hills Window icon, Rural Logic, and Closer to What Matters are exclusive trademarks of Farm Credit Mid-America, NMLS 407249. Rural 1st products are available to consumers within the territories of participating Farm Credit System Associations, including Farm Credit Services of America (NMLS ID #579135)

Home Loan Payment Calculator

This is an estimate of payments for various loan types including home loans, construction loans, lot loans, recreational land loans and home equity loans. 

Construction Loan Frequently Asked Questions

When preparing for your construction project, learn more about the construction process and connect with the experts in rural living. Watch our videos for helpful insights and guidance.

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Ag-friendly Land Loans.

Finance or refinance farmland, pasture or acreages with long-term fixed rates and flexible payment structures built for agriculture. Work with a local financial officer or apply online. 

Get Started

Country Living Insights

Request Our Rural Construction Financing Guide

Ready to take the first step toward building your rural home? Our Rural Construction Financing Guide explains the process of buying land, securing financing and building your rural home. Request our guide to start navigating the home-building process with confidence.

Request Guide