Home / Country Living Loans / Home Site Loans
Home Site Loans
[Features and Benefits] [Interest Rate Plans]
GreenStone Farm Credit Services offers home site loan programs that offer flexibility and competitive rates and terms. GreenStone FCS also has a residential marketing division that
specializes in country home loans and vacant land financing. All home site loans can include a pre-approved construction and/or end mortgage so you are assured long term mortgage financing of your completed home.
|
Feature
|
Benefit
|
|
Low Acquisition Cost
|
With as little as 15% down to qualified buyers, you can purchase a future home site with very little cash investment.
|
|
Bare Land Financing
|
The program is designed for financing of a bare parcel of land that is planned for a home site. Up to a 40 acre parcel.
|
|
Time to Build
|
Purchasing your lot by itself allows you to build equity while you pay off your lot. NO balloon payment.
|
|
No Additional Security Required
|
With a minimal down payment, there is no additional security required.
|
|
Loan Term
|
30 year amortization |
|
Low Interest Rate
|
The 5 year adjustable interest rate comparable to the Fannie Mae 30 year fixed on the home site loan is very competitive.
|
Top of page
|
Interest Type
|
Index
|
Re-pricing
Frequency
|
Maturity
Min/Max
|
|
Indexed Adjustable Rate Mortgage (ARM)
|
Initial rate is set by the association. At repricing, rate is based on one or three year Federal Farm Credit Bonds Index as of 45 days prior to rate change date.
|
1 year
3 years
5 years
|
15 years
|
|
Variable and Variable with Cap
|
Rate is set every 30 days.
|
Monthly
|
15 years
|
Top of page
© 2004-2008 Greenstone Farm Credit Services.