All Forum Posts by: Dustin Breon

Thanks again Mason, the bank offering the ARM is in fact an Ag lender and works frequently with the FSA.

Thanks Mason - we have discussed an owner finance option with a 10 year balloon, the seller stated they were willing to entertain. With the direction inflation and interest rates are moving, I'm concerned being at the mercy of the market in 10 years when it's time for payoff/refinance. 

Farm Credit offers 20 year term at 6.5%, not the friendliest either. 

A more local bank has offered 5 year ARM @ 4.5% (2% max increase every 5 years) with a 25 year payoff.

A fixed 25 year would be the ticket. 

Hello, 

Negotiating on a 75 acre parcel that is part of an active farming operation in Virginia. 45 acres of fenced pasture and 20 acres already in hay production, numerous usable outbuildings but no residence. 

I am looking for a lender that may offer a 25-30 year term with 20% down. Either from a bare land loan perspective, or, small business loan as this property is capable of being an income producing resource. 

FSA (Farm Service Agency) is unable to offer any plans as our credit/income is too high - we have W-2 jobs and other investment properties. 

Thank you