I am looking into buying some more land. I have 160 acres that i would like to try and buy. But the best interest rate i have found so far is a fixed 8.2% for 15 years.
Now farm credit will go 7.1% if you live on the property. Has anyone recently got or know of a better interest rate. Or anytype of farm loans where a person can beat this ?
A friend of mine told me that when he sold his turkey farm just recently to a laotion fella he got a goverment loan with 1 % interest. So i got to checking arround and yes all of the refugees who are currently moving here to this area are buying farms with goverment loans at 1 % interest.
That must be nice to be able to borrow money at that rate ?
Now farm credit will go 7.1% if you live on the property. Has anyone recently got or know of a better interest rate. Or anytype of farm loans where a person can beat this ?
A friend of mine told me that when he sold his turkey farm just recently to a laotion fella he got a goverment loan with 1 % interest. So i got to checking arround and yes all of the refugees who are currently moving here to this area are buying farms with goverment loans at 1 % interest.
That must be nice to be able to borrow money at that rate ?