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Financing Land
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<blockquote data-quote="ETF" data-source="post: 506123" data-attributes="member: 5944"><p>I've had the loan with Farm Credit for about 2 years. Got one small rate reduction shortly after the loan started. I check with them every 6 months or so. Apparently they tie their loan rates to bonds, and bonds are still high. That's what is so frustrating about seeing these low mortgage rates.</p><p></p><p>I talked to one bank last week just to see what they had available. Same old story, 5 year loan, adjustable rate, and the going rate was 8% with a 12% cap. Thanks but no thanks. I can't imagine how any young folks could get started if they don't already have the land.</p></blockquote><p></p>
[QUOTE="ETF, post: 506123, member: 5944"] I've had the loan with Farm Credit for about 2 years. Got one small rate reduction shortly after the loan started. I check with them every 6 months or so. Apparently they tie their loan rates to bonds, and bonds are still high. That's what is so frustrating about seeing these low mortgage rates. I talked to one bank last week just to see what they had available. Same old story, 5 year loan, adjustable rate, and the going rate was 8% with a 12% cap. Thanks but no thanks. I can't imagine how any young folks could get started if they don't already have the land. [/QUOTE]
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