rural housing loan


Eligibility criteria:

  • Have an adequate and dependable income
  • Be a U.S. citizen
  • Have an adjusted annual household income that does not exceed the moderate income limit established for the area. (See our lenders for more details)
  • Have a credit history that indicates a reasonable willingness to meet obligations as they become due
  • Have repayment ability based on the following ratios: Principle, Interest, Taxes and Insurance divided by gross monthly income must be equal to or less than 29%. Total debt divided by gross monthly income must be equal to, or less than, 41%


Homes that Qualify:

  • Guaranteed loans can be made on either new or existing homes
  • Existing homes must be structurally sound, functionally adequate, and in good repair
  • There are no restrictions on the size or design of the home financed
  • The home must not be used for income producing purposes


Features & Benefits

  • Loans may be for up to 100% of appraised value or for the acquisition cost
  • Mortgages are 30-year fixed rate at market interest rates
  • Loans may include funds for closing costs, the guarantee fee, legal fees, title services, cost of establishing an escrow account and other prepaid items, if the appraised value is higher than sales price
  • Seller may contribute to the buyer's closing costs
  • Home buyers make application with Community First Bank lenders
  • Buyers must personally occupy the dwelling following the purchase


To learn more about this program, please visit your local Community First Bank Lender