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

Banks That Offer Personal Loans

There are hundreds of banks that offer personal loans, but sometimes choosing a bank that is the right fit you can be difficult. That's where First Bank comes in.  At…

Mobile Merchant Account – First Bank

Credit and debit card processing is one of the most important parts of doing business today. First Bank’s mobile merchant account services provide your business with a way to accept…

Savings Account – South Carolina

If you live in South Carolina and are looking for a savings account, your local First Bank can help. We offer savings accounts to meet a variety of needs, and we are dedicated…

Checking Account Comparison First Bank of High Point, NC

High Point, North Carolina, is a bustling city full of history, businesses, recreation and much more. If you live in High Point, NC, you probably want a checking account that…

Lumberton Bank (Bank in Lumberton)

The city of Lumberton, North Carolina, only takes up about 15.8 square miles of land, but within that area there are plenty of shops, restaurants, entertainment, and banks for residents to…

Lowest Mortgage Rates – Jacksonville, NC

If you are looking for some of the lowest mortgage rates in Jacksonville, NC, your local First Bank can help. Now is a great time to buy a home in…

Small Business Loans – Florence, SC

With a rising population and a per capita income higher than the state average, Florence, South Carolina, is a promising place for new businesses. First Bank has two locations in…

Asheville Savings

First Bank in Asheville offers savings accounts for anyone looking to get the most out of their money. Whether you’re under 18 and just starting to learn about saving or…

Best Checking Accounts – Florence, SC

If you're looking for the best checking accounts in Florence, SC, you have a lot of different options. At First Bank of South Carolina, we have two convenient locations in Florence…

Balance Transfer Calculator

If your current credit card isn’t meeting all of your needs, consider switching to a First Bank credit card. First Bank now offers the option to transfer your balance from…