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#3143456 - 01/29/13 07:57 AM Re: Farm Loans [Re: Hunter 257W]
JA1234
10 Point


Registered: 01/13/06
Posts: 3841
Loc: just a hair or two north of th...

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I went through farm credit. I only paid 5% down. Its all in who you know and what your credit is...if you have really Great credit 780+ you can typically get what you ask for. Knowing someone makes getting it hassle free. Loaning money is a very competitive game. Don't just take what they offer as that is what it has to be. Negotiate! certain things they are regulated to charge.
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#3145768 - 01/30/13 02:27 PM Re: Farm Loans [Re: JA1234]
mrw
4 Point


Registered: 11/12/07
Posts: 277
Loc: Cookeville, Tn

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I just bought 45 acres. I went through Farm Credit also and was able to get a 10 yr fixed rate at 3.7%. I put down 25%. I could have put down as little as 10%, but I'm sure it would have been at a higher rate. You can get a lower rate if you plan to build on the property in the future.
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#3149779 - 02/03/13 06:23 AM Re: Farm Loans [Re: mrw]
blountcountyboy
8 Point


Registered: 03/30/03
Posts: 1370
Loc: Blount CountyTN ya know over n...

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Farm Credit...... A+++... It took us 6 months to get the land we purchased surveyed, and all the info TO Farm Credit... it took Farm Credit less than a week to have us closed on the land. Since the land we already owned joined this parcel and everything we owned already paid for they REALLY worked with us and discussed different loans until we found the one that worked best for us. I will work with them again in the future.
_________________________
If not for bad luck I wouldn't have any luck at all.

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