Resources

We offer several fixed and adjustable rate mortgage options for rural homes and land. Many people think they need a special agricultural loan, but it's the same as a regular home loan, with the only difference being the type of property used as security. Because of this, we keep these loans in our portfolio instead of selling them like most lenders do. Browse Compeer Home's suite of Loans to find the right fit for you.

Yes, Compeer Home offers a unique first-time homebuyer mortgage loan, which allows for a ZERO down payment option. Our first-time homebuyer allows financing up to 100% of the property value without forcing the buyer to purchase private mortgage insurance (PMI). This program has a maximum loan(s) amount of $400,000.

If you build far from a public road, you'll need to pay for extending utilities, which can be expensive. Check internet and cell service coverage in the area to avoid any issues. Read our Guide to Buying a House in the Country to learn about common challenges—and how to work through them—as you explore the rural way of life.

Yes, you can. We offer several construction loans options; one that automatically converts to permanent financing at no extra cost and another option that allows you lock in your interest rate before your house is built. Unlike many lenders, we also let you be your own general contractor if you’d like. We are here to guide you through the entire construction loan process, from start to finish.

The amount you can borrow depends on your financial situation, available lending programs, and what you want to buy.

Use Compeer Home's mortgage calculator to estimate your home budget. Plus, our First-Time Homebuyer Program zero down payment and no mortgage insurance may make homeownership more accessible than you think. One of our expert Loan Officers would be happy to walk you through your affordability as well.

That will vary based on the amount of your loan, interest rate, loan term, and more. Compeer Home's calculators can help you estimate your monthly mortgage payment based on your unique situation.

We do not require mortgage insurance on our portfolio loans.

If you are looking for a secondary market loan and have less than 20% down payment, private mortgage insurance may apply.

Our First-Time Homebuyer Program does not require PMI and further allows ZERO down payment. If you’re not a first-time homebuyer, one of our dedicated Loan Officers can walk you through your options.

PMI (private mortgage insurance) protects lenders in instances where a borrower doesn't pay (also known as defaulting) their loan back according to the terms of the note.

It depends! Your financial situation and property characteristics will determine your required down payment.  We offer creative solutions to help you achieve your Rural Home Ownership dreams with the least amount of down payment possible.  Please reach out to one of our expert Loan Officers as they can walk you through personalized options to help you achieve your goals.