Families around the country are following their hearts and moving to their dream home in the country. For many, the privacy, open air and opportunity to manage a small business are a huge draw, which adds up to increased demand in hobby farm properties. However, hobby farms don't usually fall into traditional lending categories. With outbuildings, barns, pastureland and tillable acreage, these non-conforming properties often face significant challenges in securing affordable long-term, fixed-rate mortgages. Our Correspondent Program is specifically designed for Rural Homes and Hobby Farm properties that often fall outside traditional guidelines. The RuraLiving® home mortgage product is offered on a non-delegated correspondent basis which gives you the ability to originate and close the loan in your name while we underwrite, purchase, and service them. Our program is available in all 50 states to Mortgage Bankers, Banks and Credit Unions. A few program highlights include:
Long-term competitive fixed rate options for a niche market in rural areas
Flexible appraisal requirements for rural areas
Opportunity to open up a new segment of business not only for you but your realtor contacts as well
We provide a dedicated and experienced team to help you through a simple and convenient loan process
Typical Property Characteristics
Owner-occupied primary residence
Home with acreage ranging from 5 to 160+ acres
Outbuildings – Barn, Silos, and Stables
Schedule F Income
Farm Animals
Pastureland
Contact one of our Correspondent Reps to learn more and to see if this program is a fit for your company.
Jenna Evan VP Lending Relations Mobile: 715-928-3470 Jenna.Evan@Compeer.com Matt Feigner VP Lending Relations Mobile: 480-622-8656 Matt.Feigner@Compeer.com Jessica Sacre Partner Lending Specialist Office: 515-252-2793 Mobile: 515-518-7513 Jessica.Sacre@Compeer.com