Rural 1st has the lending expertise and rural focus needed to offer construction financing packages tailored to your specific needs. That’s why we’ve developed this video series for people wanting to build their dream home in the country.
Rural 1st was founded to secure the future of rural communities. Our team of rural lending experts help finance country living dreams for customers across our service area. We’re the leader in rural lending for a reason—we don’t just loan rural, we live rural.
That’s how we know your area and can provide you with on-the-ground expertise. We offer tailored lending solutions for lot, land, construction and home loans based on our deep understanding of rural financing and our customer’s needs. Rural 1st helps those seeking open spaces get Closer to What Matters®.
In addition to financing the construction of conventional-style homes, we also finance barndominium and log home builds, as well as remodel projects. Our lending expertise and rural focus allows us to offer construction financing packages tailored to your specific needs.
Benefits of a Rural 1st Construction Loan
Get the Full Value of Your Land
We can use the equity in the land, its outbuildings and other site improvements towards the down payment on your construction loan. This equity has the potential to lower the amount you’d need to put down.
Choose Your Builder
While other lenders may ask you to work with a builder they prefer, we let you choose your own. We simply ask that they meet our requirements to ensure a smooth build.
One-Time Close
We think closing once is enough. Go from construction to permanent financing with one simple loan package—no refinancing required when your construction project is complete.
Fixed and Variable Rates
While other lenders may only offer variable rate construction loans, we give you the option of fixed rates as well.
Lower Rates for Less
At Rural 1st, we also offer a loan conversion program*, giving you the opportunity to reduce your rate annually without the hassle or cost of a refinance. This can save you thousands of dollars over the life of your loan, without extending your maturity date. You could also shorten your loan term by lowering your rate, but keeping your payment the same.
Manage Your Build in One Place
With our simple Digital Draw Management tool, you can manage draws, disbursements, inspections and your progress all in one place. You, your contractor and your Rural 1st team can monitor the project together in real time.
Open Space and Slower Pace
Whether you’re looking for open space, a slower pace or deeper community ties, you’ll find it in rural America and you’ll find it with Rural 1st. We not only help you secure the financing for your construction project, we help you achieve your dream of living rurally.
Continue watching this video series to learn more about the construction loan process. If you’re ready to get started, reach out to our team of rural lending experts today.
