North Dakota Country, Rural Home Loans
North Dakota Country Rural Home Loans are designed for people who wish to finance a home in rural area of North Dakota. Family farm animals such as horses and 4-H Project animals and barns are allowed to be on the property. Revenue producing agricultural activity in not allowed.
- Minimum loan amount is $100,000
- Maximum loan amount is $417,000
- Must be able to put a minimum down payment of 3% on a purchase
- Refi to 90% of appraised value
- Cash out to 80% of appraised value
- There is no limit on number of acres but the house must be worth at least 35% or more of the loan amount
- Primary residence only
- Income must be verified from pay stubs and/or tax returns
- No stated income documentation
- Minimum credit scores of 620 - Free Credit Report
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