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Jumbo Loans
Jumbo Loans are loan amounts that exceed the conforming lending limit set by Fannie Mae and Freddie Mac .
A Jumbo Loan is ideal for homebuyers who prefer a single loan to accommodate the purchase of a higher value home. MidCountry Bank offers both fixed-rate and adjustable rate (ARM) Jumbo Loans allowing for greater payment flexibility.
Benefits of a jumbo loan
- Gives borrowers an option for loan amounts exceeding the conforming lending limit
- Fixed-rate option for borrowers who intend to remain in their new home long term
- Adjustable rate option for borrowers who prefer an initial payment that may be lower than fixed-rate options or who intend to live in their new home short term
- One loan - no need to obtain multiple loans for the purchase of a higher value home
3 Season Cabin Loans
Designed for borrowers who are purchasing a 3 Season Cabin that doesn’t meet Conventional financing guidelines.
Features of a 3 Season Cabin Loan
- Cabin does not need to be usable year round
- Reasonable Down Payment and Credit Score requirements
- Available for Single Family Homes, Townhomes & Condos in MN and western counties of WI
- Seller may contribute towards borrowers closing costs
- Expedited process and underwriting flexibility for unique situations
Hobby Farm Loans
Designed for borrowers who are purchasing a hobby farm that doesn’t fit conventional financing guidelines. Instead of using the typical conventional property analysis, this program uses a common sense approach when analyzing the loan details.
Features of a Hobby Farm loan
- Reasonable Down Payment and Credit Score requirements
- There are no acreage limits
- Available for Single Family Homes, Townhomes & Condo’s in MN and western counties of WI
- Seller may contribute towards borrowers closing costs
Lot Loans
Designed for borrowers who are purchasing a buildable residential lot. This program uses a common sense approach when analyzing the loan details.
Features of a Lot Loan
- Reasonable Down Payment and Credit Score requirements
- Buildable single family lots—10 acre maximum
- Available for lots in MN and western counties of WI
Other Specialty Programs
- Loans designed for self-employed borrowers
- Loans that will close in a business' name
- Loans for Income-producing hobby farms
- Loans for individuals with advanced medical degrees
Minimum and Maximum loan amounts apply. Rates and programs subject to change at any time. Loans subject to borrower qualifications, property evaluation and credit approval. All rates and program guidelines subject to change without notice based on consumer eligibility and marketing conditions. All loans subject to credit approval and compliance with underwriting standards.