Compeer Financial Launches 0% Down Payment Loan Program for First-Time Homebuyers
For Immediate Release
Nora Nolden, Communications Consultant
[email protected] or (651) 245-6804
Compeer Financial Launches 0% Down Payment Loan Program for
Program incentivizes home buying in rural communities
SUN PRAIRIE, Wis., (September XX, 2023) – Compeer Financial, a trusted leader in rural finance and lending, is excited to introduce its groundbreaking First-Time Homebuyer Program, designed to empower individuals with the dream of homeownership by eliminating barriers like down payments and Private Mortgage Insurance (PMI) costs.
Compeer’s Rural Living Solutions (RLS) team is proud to unveil this innovative financing option, catering specifically to those seeking to purchase a home for the first time. With the RLS First-Time Homebuyer Program, prospective buyers can access up to $400,000 in financing to purchase homes situated in small towns and rural areas within Compeer’s territory.
What sets this program apart from conventional loans is its unique offering of a 0% down payment requirement and the exclusion of PMI expenses. These financial barriers often stand in the way of aspiring homeowners, but Compeer’s program aims to make the dream of homeownership a reality.
“People who want to purchase a home for the first time don’t always have cash on hand to cover a down payment or the PMI costs, and that can delay their dream of becoming a homeowner,” said Tim Tjosaas, vice president of rural living solutions at Compeer. “This program aims to provide credit-approved individuals the opportunity to reach their homeownership goals earlier.”
Compeer Financial’s First-Time Homebuyer Program reflects the organization’s unwavering commitment to rural vitality and dedication to supporting rural communities. Investing in a home means investing in the community where one lives, fostering financial stability, personal connections and community engagement.
For more information about Compeer’s First-Time Homebuyer Program, and to see if you or someone you know qualifies, please visit compeer.com/FTHB.
About Compeer Financial
Compeer Financial is a member-owned Farm Credit cooperative serving and supporting agriculture and rural communities. The $30.5 billion organization provides loans, leases, risk management and other financial services throughout 144 counties in Illinois, Minnesota and Wisconsin. Based in the Upper Midwest, Compeer Financial exists to champion the hopes and dreams of rural America, while providing personalized service and expertise to clients and the agriculture industry.
Compeer Financial is the third largest cooperative of the Farm Credit System, a nationwide network of lending institutions supporting agriculture and rural communities with reliable, consistent credit and financial services. Learn more about Compeer Financial.