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Lone Star Ag Credit offers the rural homeowner long-term financing at competitive rates.
Loans are available for:
- Country home purchase
- Refinancing a country home
- Construction of country homes
Key Criteria for Eligible Rural Home Loans
- Property must be located outside city limits or within a town of 2,500 or less population
- Contributory value of dwelling should be at least 50% of total appraised value
- Single-family, owner occupied home
- Maximum Loan to Value is 95% (restrictions apply)
- Secured by first lien
- Private Mortgage Insurance required on loans with loan value greater than 80%
Key Criteria for Eligible Part-Time Farm/Rural Home Loans
- Must be capable of agricultural production
- 5-acre minimum of $5,000 in gross farm income
- No limit on dwelling value
- Multiple dwellings allowed
- Single-family detached/owner occupied/primary or secondary home
- Purchase/Limited Cash Out Refinances to 85% loan to appraised value
There are many advantages to this program. Please contact your local office for further details.
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