Skip to main content
_FB_2018-Icons-finalized-cleaned-up_new_FB_2018-Icons-finalized-cleaned-up_newGroup 9
Back
Scroll to top

Rural Housing Loans

Claim your corner of the countryside.

We help rural borrowers afford homes of their dreams.

Rural housing loans are designed to assist borrowers outside of urban areas become homeowners. These loans offer a variety of unique and attractive features for qualifying borrowers.

Perfect for you if:
  • You rent in a rural area but want to own your own home.
  • You want to move to a rural area.
  • You need flexible loan terms.

Loan Features

  • 102% financing options.
  • First-time homebuyers and previous homeowners eligible.

Loan Benefits

  • No down payment required.
  • No Private Mortgage Insurance (PMI) required.
  • Low interest rates.

Considerations

  • USDA loans have an up-front guarantee fee and annual fee. The up-front guarantee fee is equal to 1% of the loan amount and may be paid by the borrower, seller, or financed into the loan. The annual fee must be escrowed monthly and is assessed for the life of the loan.
  • USDA home loans also have certain property and income restrictions.
  • The annual fee is .35% and is calculated on the “scheduled” amortization balance.
  • Cannot currently own another home at the time of closing.

Terms

First Bank’s Rural Housing loan is available as a 30-year fixed-rate mortgage only.

Apply online today

Applying for a First Bank mortgage is fast, easy and secure. Before you begin, have the following information on hand.

Financial Information
  • Income
  • Your total assets
  • Monthly expenses
Property Information
  • Estimated purchase price and down payment amount (if buying)
  • Estimated property value and loan amount (if refinancing)
Work with a local mortgage specialist

Loans are subject to credit approval.

For a $200,000 mortgage loan for a term of:

  • 30 years fixed interest rate of 4.75%, with an APR of 4.906%, the monthly payment would be $1,043.29.

Based on 20% down payment and 1% Origination Fee. Payment does not include taxes and insurance premiums. The actual payment amount will be greater. These payments are based on recent interest rates and can vary based on individual credit.

Trending Topics

Best Banking Rates and Services: First Bank, NC

There are many factors to consider when assessing a checking account comparison. You’ll want to weigh interest rates, maintenance fees, ATM options, online features and more. First Bank has nearly 100 locations across...

High Yield Savings Accounts in South Carolina

It’s no secret that travel can make you happier, but did you know that it can also improve your social skills, help you accomplish goals, make you more patient, and improve the quality of your relationships? If you want to...

Best Personal Loans – Florence, SC

What makes for the best personal loan in Florence, SC? Interest rates and other terms aside, it all boils down to which personal loan is best for you. In Florence, SC, First Bank offers a number of different ways to...

High Interest Checking Accounts In Albemarle, NC

It was not far from Albemarle, NC where in 1799 the 17-pound hunk of gold was found that sparked America’s first gold rush. While you may not strike it rich mining for gold, a high-interest checking account from First Bank...

High Interest Checking Accounts – North Carolina

A high interest checking account in North Carolina can offer a safe, steady solution for those who want to grow their money without much risk. At First Bank, we have several branches conveniently located across the state...

Save Money with This Refinance Calculator for Home Mortgages

When mortgage interest rates are low, homeowners should compare their current mortgage terms with the option of refinancing. By locking in the right rate, homeowners can take advantage of significant savings. Curious to...

Breathe Easy with Affordable Small Business Loan Rates in Albemarle, NC

First Bank has remained committed to helping small businesses and communities flourish since we opened our doors in 1935. Our dedication to providing a robust package of banking solutions with a personalized touch is why...

Commercial Mortgage – Wilmington NC

First Bank’s commercial mortgage lenders can put you in the right location for your Wilmington, NC, business to succeed. Our commercial real-estate loan specialists will offer you more than just a competitive rate—we’ll...

Need Online Payroll Services Nearby? Trust Your Local First Bank

Going green isn’t only good for the environment. If you’re a business owner, turning your business into an eco-friendly venture could help you save money and attract more customers. By cutting costs in certain areas, you...

Small Business Loan Rates in North Carolina

For competitive small business loan rates* in North Carolina, stop by your local First Bank branch to compare loans with flexible terms and highly competitive rates. We make borrowing money for your business easy and...