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Farm loan interest rate #7070818
12/02/20 01:41 PM
12/02/20 01:41 PM
Joined: Jan 2014
Posts: 2,078
NW MO
T
TurkeyTime Offline OP
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TurkeyTime  Offline OP
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Joined: Jan 2014
Posts: 2,078
NW MO
Hello. What are fixed 30 year farm land purchase interest rates in your area? I haven't checked ours yet but wondering what everyone else has seen. I have zero credit issues. Thanks.

Re: Farm loan interest rate [Re: TurkeyTime] #7070844
12/02/20 02:31 PM
12/02/20 02:31 PM
Joined: Feb 2014
Posts: 13,039
Ky
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jbyrd63 Offline
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jbyrd63  Offline
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Joined: Feb 2014
Posts: 13,039
Ky
Around here 20 years as long as they go on farm loans. 3.95 -4.25 % IF there is a house and it is 65% of the value you can do a home loan for 30 years .
PLUS farm has to have 35% down . Some home mortgages as little as 10% down . Best if you are going to build get a farm loan with variable rate (cheaper) then build and switch over to a home loan..

Last edited by jbyrd63; 12/02/20 02:32 PM.
Re: Farm loan interest rate [Re: jbyrd63] #7071002
12/02/20 06:06 PM
12/02/20 06:06 PM
Joined: Dec 2006
Posts: 326
southern Wi.
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nute Offline
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nute  Offline
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Posts: 326
southern Wi.
I can remember back in 1970's I bought the family .I went with local back a year later got hit with 18% on loan. It was ruff.

Re: Farm loan interest rate [Re: nute] #7071040
12/02/20 07:03 PM
12/02/20 07:03 PM
Joined: Feb 2012
Posts: 2,219
SE NEBRASKA
NebrCatMan Offline
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NebrCatMan  Offline
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Posts: 2,219
SE NEBRASKA
Originally Posted by nute
I can remember back in 1970's I bought the family .I went with local back a year later got hit with 18% on loan. It was ruff.

Kinda had the same thing...... if I remember right I had a short term loan that got renewed for just shy of 22%. Took all I could do just to pay the interest. But hogs got up to about $70 or more a hundred weight. I raised about 550 a year ( pretty simple set up on dirt) from farrow to finish. But with a way to make money soon everyone got into hogs and they went down. But a couple good years got me back in good grace with my banker.


Remember "Forbidden Fruit makes many Jams"
Re: Farm loan interest rate [Re: TurkeyTime] #7071049
12/02/20 07:17 PM
12/02/20 07:17 PM
Joined: Feb 2020
Posts: 8,802
Indiana
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Providence Farm Online content
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Providence Farm  Online Content
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Posts: 8,802
Indiana
I have been quoted 4% on 20 years. They want 30$ down. 20 years is about all farm credit wanted to go without increasing the intrest rates.

Re: Farm loan interest rate [Re: TurkeyTime] #7071098
12/02/20 07:51 PM
12/02/20 07:51 PM
Joined: Aug 2012
Posts: 484
MO
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trap master Offline
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MO
turkey time, i used FCS financial in chillicothe, i think im in there somewhere around 4.5 0r 4.75%. 10 years and i just make 1 annual payment

Re: Farm loan interest rate [Re: TurkeyTime] #7071101
12/02/20 07:54 PM
12/02/20 07:54 PM
Joined: Jan 2011
Posts: 3,241
Indiana
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keystone Offline
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keystone  Offline
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Posts: 3,241
Indiana
I’m closing with a fixed 3.4% 30yr through farm credit next week!

Re: Farm loan interest rate [Re: nute] #7071141
12/02/20 08:32 PM
12/02/20 08:32 PM
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Posts: 6,487
Wi.
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Diggerman Offline
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Wi.
Originally Posted by nute
I can remember back in 1970's I bought the family .I went with local back a year later got hit with 18% on loan. It was ruff.

been there!

Re: Farm loan interest rate [Re: TurkeyTime] #7071216
12/02/20 09:25 PM
12/02/20 09:25 PM
Joined: Dec 2017
Posts: 6,188
Kansas
Pawnee Offline
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Pawnee  Offline
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Posts: 6,188
Kansas
3.75% with .5 patronage here so 3.25%. I’ll double check that in the morning but I think that’s right. FSA office does loans for first time land buyers for close to 1% and not much down up to a set amount. Maybe 100k? I’d check that out if it applies to you.


Everything the left touches it destroys
Re: Farm loan interest rate [Re: TurkeyTime] #7257185
05/03/21 11:03 PM
05/03/21 11:03 PM
Joined: Jan 2014
Posts: 2,078
NW MO
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TurkeyTime Offline OP
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TurkeyTime  Offline OP
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Joined: Jan 2014
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NW MO
Any new numbers? FCS today 4% for 20 year, 4.2 for 25, 4.4 for 30

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