First-Time Homebuyer Loan with Zero Down Payment for Rural IL, MN, & WI
Buying your first home is a significant milestone—for building the life you want to live and for your finances. We’ll help make your buying journey more affordable and less daunting, in every way.
Financing Your First Home with a Zero Down Payment Option
The First-Time Homebuyer Loan program is designed for rural and small-town buyers, offering affordable, accessible options to help you achieve your dream.
- More Affordable Options: A Zero down payment option and no private mortgage insurance (PMI) make homeownership within reach.
- Generous Loan Limits: Borrow up to $400,000 to find the home that fits your needs.
- Flexible Servicing Options: Enjoy benefits like mortgage rate conversion opportunities to keep your payments manageable.*
- Rural Financing Know-How: With deep rural expertise, we’re ready to guide you through every step of the process.
What Can You Afford?
As a first-time homebuyer, figuring out your budget is one of the first steps you should take. Enter your details and get an estimate of your monthly payment.
Estimated Monthly Payment
The total monthly principal and interest costs, plus taxes, insurance and additional payments, if applicable.$0
Total life of loan cost
The total amount borrowed plus total interest costs.$0
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$0
Total Principal
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$0
Total Interest
The Compeer Home calculator is provided for purposes of estimation only and the results are subject to individual circumstances, including timing, loan limits, and eligibility requirements, and are not a commitment to lend. Down payment requirements may apply. This calculator assumes a fixed Annual Percentage Rate (APR) and estimates taxes, insurance and additional principal payments that are entered manually. The information provided is illustrative and should not be taken as financial, tax, or legal advice. Consult a Compeer Home Loan Officer for specific guidance regarding your qualification for a loan. Compeer Home does not guarantee the accuracy or completeness of the information obtained through this calculator, and all loans are subject to credit approval.
If you Refinance Today...
You could pay/save
$0
per month on your mortgage payments
You could pay/save an extra
$0
over the lifetime of your loan
The Compeer Home calculator is provided for purposes of estimation only and the results are subject to individual circumstances, including timing, loan limits, and eligibility requirements, and are not a commitment to lend. Down payment requirements may apply. This calculator assumes a fixed Annual Percentage Rate (APR) and estimates taxes, insurance and additional principal payments that are entered manually. The information provided is illustrative and should not be taken as financial, tax, or legal advice. Consult a Compeer Home Loan Officer for specific guidance regarding your qualification for a loan. Compeer Home does not guarantee the accuracy or completeness of the information obtained through this calculator, and all loans are subject to credit approval.
Estimated Monthly Payment
Calc.LandLoanEstimatedMonthlyPayment$0
Total Life of Loan Cost
The total amount borrowed plus total interest costs.$0
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$0
Total Principal
-
$0
Total Interest
The Compeer Home calculator is provided for purposes of estimation only and the results are subject to individual circumstances, including timing, loan limits, and eligibility requirements, and are not a commitment to lend. Down payment requirements may apply. This calculator assumes a fixed Annual Percentage Rate (APR) and estimates taxes, insurance and additional principal payments that are entered manually. The information provided is illustrative and should not be taken as financial, tax, or legal advice. Consult a Compeer Home Loan Officer for specific guidance regarding your qualification for a loan. Compeer Home does not guarantee the accuracy or completeness of the information obtained through this calculator, and all loans are subject to credit approval.
First-Time Homebuyer FAQs
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The process for getting a zero down, First-Time Homebuyer Loan with Compeer Home™ starts with connecting with a loan officer to review your financial picture and explore available financing options. From there you can get pre-qualified through our online application, begin your home search, and move through the buying process with guidance through each step.
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In addition to the purchase price, buyers should plan for costs such as closing costs, inspections and ongoing home ownership costs. Even with low, or no down payment loan options these expenses are important to consider.
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Compeer Home™ does not require private mortgage insurance (PMI) for its first-time homebuyer loan program. This can help simplify your monthly costs and provide more clarify as you plan for homeownership. A loan officer can walk you through how this applies to your specific situation.
How We Help You Buy Your First Home
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Experience You Can Count On
Buying your first home can feel overwhelming, especially in tricky rural markets. We've helped thousands of first-time buyers like you, so we have experience making it simple and stress-free. -
Home Loans for the Heartland
We're here for homebuyers in Minnesota, Wisconsin and Illinois. Whether you're looking for loans to buy a cozy house in a small town or a place with wide-open space, we have financing just for you. -
Your Neighbors, Here to Help
We live where you live. Small towns and rural communities aren't just where we work-they're home for us too. We're excited to help you take this big step in the place we all love. -
It’s More Than a Loan
For us, it's about more than just getting you the keys. We're invested in helping you start a new chapter while building up small towns and rural communities.
Take the First Step Toward Homeownership
Complete the form below to begin your journey. A member of our team will connect with you to answer your questions, walk through your options and outline what comes next.
No Down Payment, No Stress: How the Hensels Bought Their First Home with Compeer
Branden and Emily Hensel wanted to blend the convenience of town life with a rural feel. With the First-Time Homebuyer program, they found their way home.
Navigate the Homebuying Process with Confidence
Buying your first home is a big deal, but you don’t have to figure it out on your own. We’re here to help you every step of the way with tips and guides to make it easier.
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10 Tips for First-Time Rural Homebuyers
Get Tips -
What First-Time Builders Should Know About Rural Homes
Learn More
*(disclaimer) To qualify for Compeer Financial’s First-Time Homebuyer Loan Program, the property and applicant(s) must meet eligibility and underwriting requirements as determined by Compeer Financial. Borrower(s) will be responsible for certain loan and closing costs at signing. This is not a commitment to lend or extend credit. Program terms, requirements and conditions are subject to change without notice. Compeer Financial is an Equal Credit Opportunity Lender and Equal Opportunity Provider and Employer. Mortgage Account Errors, Requests for Information, and Credit Reporting Disputes: If you would like to request information concerning your mortgage account, or if you believe there is an error on your mortgage account or that Compeer Financial has furnished information to a credit reporting agency on any of your account(s) that is not accurate, you will need to send a written statement to us describing in detail the information you are requesting or the information you believe is in error or inaccurate along with your name, address, and account number to Compeer Financial, Attn: RLS Servicing, PO Box 4459, Mankato, MN 56002-4459. NMLS #619731
Take the Next Step
Contact Us
Questions? We’re ready to help you achieve your dream of owning rural property, just like we have for over 13,000 families since 1995.
