Print
A A A |

Realtors Lenders and Prepared Homebuyer

Help your clients secure financing for their country homes.   

Buying rural property is likely one of the biggest purchase decisions your clients will ever make. Whether it’s new home construction or buying a new place in the country, you can gain your clients’ trust by recommending the right financing options unique to rural properties. 

Help your clients make their next homeownership move by sharing the following step-by-step process for rural home loan approval.

Step 1: Submit Application

To begin the country home financing process, applicants must complete the Consumer Loan Information and Authorization for Release forms. They will also need to provide financial documents including tax returns from the past two years, most recent paystubs and an updated balance sheet. An FCSAmerica consumer lending officer will work with the applicant to complete and submit the loan application. 

Step 2: Credit Check & Loan Decision

After the application has been submitted, FCSAmerica will order a credit report and verify the applicant’s debt and payment history. An underwriter will review the loan package to determine whether to approve the loan. If more information is needed to make the loan decision, the loan will be suspended until the information is received.

Step 3: Select Interest Rate

Once the loan has been approved, applicants will work with their lender to select an interest rate product that best fits their needs. FCSAmerica offers fixed, interim-fixed or variable rates and options to convert to another rate product at a later time. As a portfolio lender, FCSAmerica is also able to offer flexible terms for rural property loans including long-term fixed rate options.

Step 4: Pre-Closing

Before closing the loan, applicants may need to submit the most recent copies of any 401K, IRA, stocks and retirement statements, copies of the most recent month’s bank statements and their homeowners insurance agent’s contact information. If the loan is for new home construction, the applicant will need to provide detailed build specs, plans and a construction contract.

All loans require an appraisal under federal law. FCSAmerica has the experience and expertise to value features unique to rural property appraisals such as wells, septic systems or outbuildings.

Based on the property location FCSAmerica will order title insurance or a title opinion.

Step 5: Closing

The final step to homeownership is closing day. Applicants will provide a cashier’s check for the down payment, pay closing fees and work with FCSAmerica and their real estate agent to sign all closing documents.

For new home construction financing, FCSAmerica will continue to oversee inspections and disbursements until construction is complete. New home construction applicants can also take advantage of unique financing features FCSAmerica offers including one-time closing to help save time and lock in an interest rate at no additional cost.

Working with a lender who has rural property expertise can help make the home buying or building experience easier and with less hassle. And, because FCSAmerica financing is locally serviced, your clients can enjoy a long-term relationship with their lender for the life of the loan. Click for more information about rural home and acreage mortgages.

Crop Insurance Works Here.
Omaha, NE (68137) (edit)
77° Light Rain
Tue

Rain Showers

Rain Showers

78°
Wed

Partly Sunny

Partly Sunny

84°
Thu

Rain Showers Likely

Rain Showers Likely

84°
Fri

Partly Sunny

Partly Sunny

83°
Sat

Partly Sunny

Partly Sunny

85°