Are you ready to start living your country dreams? Maybe the thought of slowing down, getting back to nature, and enjoying everything the rural lifestyle has to offer is calling your name. If you’re curious about making a home for yourself in the country, here’s what you need to consider when weighing the different options GreenStone provides for country living loans.
Ready to Call the Country Home?
Perhaps you’re a DIY-enthusiast, ready to take on the challenging yet rewarding experience of building your own home from the ground up. Maybe you’re looking for the dream plot of land that your family will enjoy for generations to come and will be the site of your dream home. Or maybe you’re just ready to get outside of the city limits and trade the highway for winding dirt roads. Either way, GreenStone has a variety of loan options to fit your unique needs.
Home Construction Financing
Our home construction loans give you the ability to be your own contractor- or not! Whatever part of the building process you want to DIY or contract out, you decide. Build your own home completely yourself, contract everything out to a builder, or anything in between! The choice is yours.
Home Site Vacant Land Financing
When it comes to securing your dream property, you shouldn’t have to worry about stipulations around when you are going to build on it. Good things take time, and we think you should have the ability to say when you’re ready to break ground on your forever home-it’s your land after all! Our home site vacant land loans are ideal for those who want to build in the future, but don’t know exactly when.
Country Home Financing
As the experts in rural financing, we can help make your vision of purchasing the ideal country home come to life. What qualifies a property as a country home you might ask? To finance a home through GreenStone, the property must be located outside of city limits. The home can be located within a neighborhood or township, and there is no restriction to the amount of acreage the home can be on.
For those looking to purchase a country home on more than five acres, there can be significant benefits. Here is one example: A customer who currently has a loan with GreenStone on a 20-acre property would like to purchase an additional 40 acres. They don’t have the 20% down payment required for the land, but instead they have the option of getting an appraisal done on their current property and the 40 acres they would like to purchase.
This is called an add-on loan and can be an option for GreenStone customers who are financing a property over 5 acres. The existing property can be used as collateral to receive funding for the full purchase price of the new land. The customer would even be able to keep the debt of the existing and new property separate given they have different interest rates. Leveraging the equity they have on their current property gives them the opportunity to purchase more land and free up capital by not requiring a hefty down payment.
More Benefits to Living the Country Life
As the experts in rural financing, there are even more benefits to financing your country home through GreenStone in addition to the flexible loan terms, fixed interest rates, and easy re-amortization options we offer. As a GreenStone customer, you are a part of a member-owned cooperative that’s owned by and shares profits with the homeowners, landowners, and farmers we are fortunate enough to serve. Profits are returned to qualifying customers in the form of a check each year on Patronage Day. Think of it as a house-warming gift!
GreenStone’s team of experienced experts are here to help you live your country dreams. No matter which country living loan is best for you, our team is ready to help you put your plans into action. Contact your local branch today to get started!
