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Cattle Boards
Beginners Board
Interest rates on farm loans.
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<blockquote data-quote="Stepper" data-source="post: 396577" data-attributes="member: 3398"><p>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.</p><p></p><p>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 ?</p><p></p><p>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.</p><p></p><p>That must be nice to be able to borrow money at that rate ?</p></blockquote><p></p>
[QUOTE="Stepper, post: 396577, member: 3398"] 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 ? [/QUOTE]
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Interest rates on farm loans.
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