Purchasing a rural property is very different from purchasing in a more urban area, and the loans and grants available reflect that. These loans and grants are designed to develop our rural communities and keep them healthy.
If purchasing a rural property or maintaining a current one, there may be a loan or grant available to you such as:
Purchasing rural property with the purpose of farming it? Farm loans through the Farm Service Agency offer loans to help farmers get the financing they need to purchase a new farm or maintain a family farm. Farm loans include:
Rural Development Loan & Grant Assistance
It is important that those living in rural America have safe, affordable, and well-maintained homes. USDA loans and programs provide low to middle-income rural Americans’ homeownership opportunities. This includes loans to:
- Buy or build
- Repair your home
Programs include the Rural Housing Repair and Grants program, which provides loans and grants to “very low-income homeowners to repair, improve, modernize, or to remove health and safety hazards in their rural dwellings.” Loans can be up to $20,000 for 20 years at a 1% interest.
Find Your Rural Property With Merchant Of Homes
When buying rural property, use a local realtor like those at Merchant of Homes. We have the knowledge and experience needed to find excellent rural properties in Missouri. The trusted experts at Merchant of Homes will work with you to manage your expectations when buying a home or property but help you find what you are looking for and a price you can afford.
As always, work closely with your lender to decide the best program for you.