Rural Property Mortgage
What is a RPM?
- Single Family detached dwelling on acreage exceeding 40 acres, or quarter section.
- Outbuildings may be considered as part of property valuation.
- Agricultural zoned land, non farming operation (hobby farming is acceptable).
Overview
- Up to 75% LTV based on current appraisal by approved firm.
- Appraisal to provide two values of the property, as follows:
a. House and up to 160 acres;
b. House, up to 160 acres and out-buildings/improvements (if any)