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It can't be this difficult...what am I missing
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<blockquote data-quote="texasgal0919" data-source="post: 514421" data-attributes="member: 7945"><p>So, my husband and I are young and wanting to take out a loan for a ranch. We have the downpayment, we have the credit scores of 700 or over but we cannot seem to find anyone to loan us money for anything over 5 acres. We are wanting to take out a loan just for the land(and possibly home if there is one on it-if not we are paying cash for a cheap mobile home ot put on it).</p><p>Anyway so we go talk to FSA in west Texas and they will note even give us the time of day. These are the people who are supposed to help the young & beginning farmers, correct? They asked us if we had 3 years of managment of a farm or ranch and we said no. I was raised by a farmer and he was raised in Ranching business but we do not have any management as our dads were the managers and we both helped out when we could. We do not want to get our dads to lie about this or anything like that just so we can get the loan.</p><p>We just want a little help from someone...someone willing to give us the money to get started out...It is so difficult..we have been to first ag credit, FSA, and our local bank. Our bank said anything over 5 acres cannot be financed through them...ughh</p><p></p><p>We are moving to SW oklahoma and this is where we are buying the land. We are still in West Texas as we cannot move until we get a loan!</p><p>thanks</p><p></p><p>Edited to add: And another thing, what about working outside of the home while just getting startedi n Ranching. This is a must, right? Well the Ag places said that "Ag loans" are so you do not have to work outside of the home--you can put your time into ranching and you just pay a certain amount every year.</p></blockquote><p></p>
[QUOTE="texasgal0919, post: 514421, member: 7945"] So, my husband and I are young and wanting to take out a loan for a ranch. We have the downpayment, we have the credit scores of 700 or over but we cannot seem to find anyone to loan us money for anything over 5 acres. We are wanting to take out a loan just for the land(and possibly home if there is one on it-if not we are paying cash for a cheap mobile home ot put on it). Anyway so we go talk to FSA in west Texas and they will note even give us the time of day. These are the people who are supposed to help the young & beginning farmers, correct? They asked us if we had 3 years of managment of a farm or ranch and we said no. I was raised by a farmer and he was raised in Ranching business but we do not have any management as our dads were the managers and we both helped out when we could. We do not want to get our dads to lie about this or anything like that just so we can get the loan. We just want a little help from someone...someone willing to give us the money to get started out...It is so difficult..we have been to first ag credit, FSA, and our local bank. Our bank said anything over 5 acres cannot be financed through them...ughh We are moving to SW oklahoma and this is where we are buying the land. We are still in West Texas as we cannot move until we get a loan! thanks Edited to add: And another thing, what about working outside of the home while just getting startedi n Ranching. This is a must, right? Well the Ag places said that "Ag loans" are so you do not have to work outside of the home--you can put your time into ranching and you just pay a certain amount every year. [/QUOTE]
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It can't be this difficult...what am I missing
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