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Reasons to Buy a Rural Home

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Buy a Home in Indianapolis IN

One of the exciting opportunities that comes with shopping for a home in Indiana is that there are many beautiful rural properties for sale. There are many unique benefits of buying a rural property. Let’s go over them below.

  1. Cost-effectiveness. For one thing, rural properties are often more cost-effective to buy than those that are concentrated in cities. Although you may need to commute into the city, that inconvenience can be offset by significant savings. You may be able to buy a larger home and more land than you could afford in a more urban setting.
  2. Invest in land. When you buy a house, you also invest in the land it is on. Buying a home in a rural location allows you to purchase much more in terms of acreage than is possible when buying a home in the city or suburbs. This may be a good time to invest in land, as we are looking at economic uncertainty in the future. Real estate has concrete, practical value. Even if property values were to fall, real estate tends to recover in the long run. The value of real estate also should not drop to zero, since its functional utility means it will always be in demand. At the very least, you can live on your land, and/or rent out space to tenants.
  3. Lifestyle. A lot of people choose a rural home for lifestyle reasons. If you enjoy the outdoors, a rural property can give you more room for activities. You also can appreciate the scenery and the quiet compared to the chaos of the city. It is easier to garden or take care of livestock, if that is something you want to do. Living in the countryside also means you have more privacy. Your neighbors are further away in many cases. You truly can have your property to yourself, free of prying eyes or complaints.
  4. USDA home loans. Another fantastic reason to buy a home in rural Indiana is because you can do so using a USDA mortgage. This is a home loan program that is backed by the US Department of Agriculture. You can buy a home with a USDA loan with zero down payment. Interest rates are low. You do not have to have a perfect credit score to qualify. USDA loans do require a form of mortgage insurance, but it is affordable. If you need financial assistance, you may qualify for the Sapphire Program for a grant. We can help you figure out if you qualify, and if so, assist you in applying.

Apply for a USDA Mortgage in Indiana

A home in rural Indiana is your chance to own a bit of the American dream. If you are ready to buy a beautiful home in the Midwest countryside, we can walk you quickly and easily through the application process. To get started, please give us a call at (317) 255-0062. We work with homebuyers throughout Indiana.

Tips for Your Online Home Search

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One of the great things about the internet is that you can use it to conduct a large part of your home search online. Below are some tips that will help make your online home search a successful one.

Buy a Home in Indianapolis IN
  1. Start your search early and check regularly. If you can give yourself some extra time to conduct your home search, that flexibility can really pay off. Homes are always entering the market or selling, so the homes available one week can be very different from those available the next week. Check regularly even in neighborhoods you have already searched. You might be surprised what comes up.
  2. Make a list of negotiables and non-negotiables. Before you start looking at homes, be sure to have a list of specific wants and needs. Separate your non-negotiable requirements out from things that are merely on your wish-list. List all the items in order of priority as well if you can. This will help you to focus your search and stay realistic. Of course, you should also know your budget.
  3. Don’t overlook foreclosed-upon homes. During your home search, you might sometimes run into properties that were foreclosed upon. You might overlook these, as many people assume “foreclosure = bad.” But some of these properties are in good condition, and represent an excellent value.
  4. Broaden your search. When you are searching for homes online, you can set parameters for your search, narrowing it down to a specific geographical area, a price range, and other attributes. For example, you can specify how many floors the house should have. Intuitively, it seems like the more parameters you set, the easier it will be for you to find your ideal house. But it sometimes is smart to try broadening your filters a bit. Say, for example, you only look in one neighborhood. But there is a perfect house right inside the border of the one next to it. If you do not check a broader geographical area, you would miss it.
  5. View the house offline. During the pandemic, it became commonplace to take online tours of homes. Today, you can still take virtual tours. But if you can, you should try to make it out to the house you are interested in for an offline tour. Still photos, and even video tours, can only convey so much of what a house really looks and feels like. You really need to be there in person to totally see what you would be getting.

Buy a Home in Indiana

With the tips above, you can conduct an efficient online home search. If you are ready to shop for a mortgage, please give us a call at (317) 255-0062. During your consultation, we can help you choose a suitable type of home loan for your scenario, and give you additional tips for your home search. We can help you buy a home in Indianapolis or anywhere in Indiana.

New Indianapolis Conforming Loan Limits for 2025

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If you are shopping for a home in Indianapolis in 2025, you will be able to take advantage of higher conforming loan limits. This is in line with the increases we have seen in conforming loan limits for years. Let’s take a look at the new conforming loan limits and the doors they open for homebuyers.

Here are the 2025 Conforming Loan Limits for Indianapolis

Buy a Home in Indianapolis IN

The Federal Housing Finance Agency (FHFA) issued an announcement detailing the higher conforming loan limits for 2025. According to FHFA, “In most of the United States, the 2025 CLL value for one-unit properties will be $806,500, an increase of $39,950 (or 5.2 percent) from 2024.”

What the conforming loan limits are varies from county to county. Here are the conforming loan limits for Marion County in 2025:

  • 1 unit: $806,500
  • 2 units: $1,032,650
  • 3 units: $1,248,150
  • 4 units: $1,551,250

For comparison, these were the 2024 conforming loan limits for Marion County:

  • 1 unit: $766,550
  • 2 units: $981,500
  • 3 units: $1,186,350
  • 4 units: $1,474,400

The conforming loan limits for Marion County are also the baseline conforming loan limits. These are the conforming loan limits in most US counties.

You will find higher conforming loan limits in certain high cost counties. In those high cost counties, the average home value is higher, which means that a borrower may need more than the baseline conforming loan limits allow even to purchase an average price home. Higher conforming loan limits in those counties bring more homes within reach using a conforming mortgage.

How Higher Conforming Loan Limits for 2025 Benefit Homebuyers

If the amount that you need to borrow to buy a home is higher than the conforming loan limits, then you need to take out a different type of home loan. This type of mortgage is known as a “non-conforming” or “jumbo” loan.

To buy a home with a jumbo loan requires a more substantial down payment. Homebuyers also need to meet more strict criteria to be approved for a jumbo mortgage, making qualification more challenging.

Raising the conforming loan limits ensures that more homebuyers can continue to buy homes with conforming loans even as home prices rise. This can make a big difference for those who would find a large down payment to be an obstacle, or who might otherwise have a hard time getting approved for a jumbo loan.

During your consultation, we can help you figure out if you qualify for a conforming mortgage, or require a jumbo loan. In either situation, we can help you work past obstacles to buy a home.

Buy a Home in Indianapolis

The higher conforming loan limits for 2025 are a great opportunity for homebuyers. If you want to buy a home in Indianapolis or anywhere in Indiana, Grandview Lending Inc. can help. To get started, please give us a call at (317) 255-0062 to schedule your mortgage consultation.