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Beginners Board
Getting a loan
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<blockquote data-quote="H and H" data-source="post: 1076358" data-attributes="member: 18837"><p>I don't know that there is any, one, right answer for financing. Everyone's situation is different - I never wanted my 'old man' to co-sign anything at the local bank my great gpa started us off with, so I went to FSA and got a guaranteed loan (15 or so years ago). I cannot give them any kind of recommendation, way too much beuaracracy, however if you have little/no equity and are just starting out - they will get you started. </p><p></p><p>Since then, I am following an old cowboy's advice to 'always keep your cows paid for,' and its working well. I have a great relationship with the aforementioned community bank, there's an operating line of credit with very reasonable terms and easy term/limit extensions when needed. I agree with J&D, this is my preferred method for banking, there is very little paperwork/stress/no visits/almost a handshake kind of place (not quite, but they'll make sure that check is good while they are waiting for the paperwork to 'catch up').</p><p></p><p>Back to the topic at hand, if the local bank is not an option; Met Life has a local Ag Real Estate Lending office and they are providing pretty competitive fixed rates - no first hand knowledge with them, but the guys I know who use them, are recommending them.</p></blockquote><p></p>
[QUOTE="H and H, post: 1076358, member: 18837"] I don't know that there is any, one, right answer for financing. Everyone's situation is different - I never wanted my 'old man' to co-sign anything at the local bank my great gpa started us off with, so I went to FSA and got a guaranteed loan (15 or so years ago). I cannot give them any kind of recommendation, way too much beuaracracy, however if you have little/no equity and are just starting out - they will get you started. Since then, I am following an old cowboy's advice to 'always keep your cows paid for,' and its working well. I have a great relationship with the aforementioned community bank, there's an operating line of credit with very reasonable terms and easy term/limit extensions when needed. I agree with J&D, this is my preferred method for banking, there is very little paperwork/stress/no visits/almost a handshake kind of place (not quite, but they'll make sure that check is good while they are waiting for the paperwork to 'catch up'). Back to the topic at hand, if the local bank is not an option; Met Life has a local Ag Real Estate Lending office and they are providing pretty competitive fixed rates - no first hand knowledge with them, but the guys I know who use them, are recommending them. [/QUOTE]
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