Plant Your Roots Loan Program

Plant Your Roots Loan Program

Plant Your Roots Loan Program

If you’re looking to plant your roots in Tennessee communities known for scenic farmland or remote small-town charm, Mortgage Investors Group stands ready to help you buy that rural home of your dreams

Thanks to the “Plant Your Roots” mortgage loan program, borrowers who meet set income requirements may be eligible to buy homes in participating rural U.S. Census tracts across the state.

We’ve opted to join the program to help borrowers in those communities to get homes purchased,” said Patti Hamilton, MIG Vice President and Credit Risk Manager. “Not every lender is offering this.

MIG participated in a similar agency program in late 2018 and jumped at the chance to offer the revamped program again this year.

As an added incentive for homebuyers, MIG will be offering a $2,000 credit to the participating borrowers as a way to help lower their interest rate and, therefore, lower their monthly mortgage payment, Hamilton said.

The bulk of that $2,000 will be applied to lowering that interest rate,” she said. “We will put it towards the borrower’s closing costs if we don’t use the full $2,000. I can’t imagine anyone not wanting to do it. With some of our loans last year, we saw savings sometimes up to $50 a month.

To be eligible, the single-family dwelling must:

  • be located within an eligible rural Census tract as determined by the Federal Housing Finance Agency
  • the borrowers must meet certain income limits and have a minimum credit score of 620, and
  • the loan must close prior to Dec. 15, 2019

There are about nine counties around the Nashville area that would not be eligible,” Hamilton said. “For every other county within the state of Tennessee, either the entire county or pockets based on the Census tract, would be eligible.

The homebuyer must apply for fixed-rate conventional financing to participate in the program, but can use the loan for a new owner-occupied purchase or a rate-term refinance, she said.

It can be an investment property or a second home.” she said.

To find out whether your property is located within one of the eligible census tracts, visit LINK. For more information about MIG’s participation in the program, visit www.migonline.comor ask one of our licensed mortgage loan officers.


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Mortgage Investors Group, based in Tennessee, offers residential financing in a number of states in the southeast, See MIG Service Areas. Terms and conditions to apply to home financing. We want to share with you the loan terms vary based on several characteristics and your financial profile. These include but are not limited to loan program, loan purpose, occupancy, credit history, credit score, assets, and other criteria per loan type. The repayment terms and interest rate may vary from time to time. The terms represented here are based on certain assumptions outlined below and/or noted on the loan outline page. Additional details concerning privacy, program disclosures, licensing specifics may be found at Legal Information.

MIG Loan Officers will help gather the information needed for an individual assessment to provide home financing which matches the loan characteristics with your home financing needs based on your financial profile, when you are ready to begin a full loan application. For estimates and general information before that step, the basis for which the mortgage financing information are as follows:

  • Rates are subject to change at any time.
  • Rate locks are available at current terms for 30 to 180 days based on program type, credit profile, property location, etc. which will affect the available rate and term.
  • Rate locks are available at current terms for 30 to 180 days based on program type, credit profile, property location, etc. which will affect the available rate and term.
  • Payments will vary based on program selection, current rates, property location, etc.
  • Not all programs are available in all states.
  • Some loan programs may not be available to first time home buyers.
  • Terms and conditions apply, which may include restrictions or limits per loan program.
  • Information is generally based on primary residence occupancy with no cash out when refinancing.
  • Unless otherwise stated, terms shown are estimates based in part on credit score of 700 or higher; owner occupancy, escrow account is established for taxes and insurance(s); debt-to-income ratio no higher than 43.0%; PMI applies to conventional loan programs over 80.0% LTV; VA,FHA & RD require insuring fees included in loan and/or payment; fixed rate, 30 year term.

An MIG Loan Officer is available to help with your financial details to determine which characteristics apply to your situation for a personalized look into which loan program best fits your home financing needs. Please use the Find a Loan Officer link or reach out to Mortgage Investors Group at 800-489-8910. Equal Housing Lender 1.2020