Farm and ranch loans
By Mark Lambie
If you are considering the purchase of either a farm or a ranch,
you know that the cost of purchasing your property can exceed
one million dollars. Quite frankly, not that many people are
resourceful enough to fund this purchase themselves. Farm and
ranch loans are available to you and at a rate that you can afford.
What options do you have to finance your property? With careful
research you can examine various plans available to you and
close on a deal sooner than you think. We list three important
plans for you here:
1. Your local bank or savings institution. Throughout the U.S.
there are financial institutions specializing in farm and ranch loans.
Many have existed well before the dust bowl era and are proudly
serving their communities today. Others have been snapped up by
national banks, but they still faithfully serve their communities. The
rate you pay for your loan can vary depending on whether your
property is currently being used for production agriculture or not.
2. Your state government. Many states have set up agricultural
associations to assist farmers and ranchers in obtaining low cost
loans. Loan rates are usually competitive with financial institutions
and may actually be lower if the state has a vested interest in
saving farms and ranches in your area. Contact your state
government for the correct agency.
3. The federal government. Agriculture is a key commodity for
the American economy and the US federal government
understands this. The United States Department of Agriculture
[USDA] actively assists people in obtaining farm and ranch loans.
The Farm Service Agency is part of the USDA and their plans
include loans to beginning farmers and ranchers, low income
farmers and ranchers, emergency loans, youth loans, and farm
ownership loans. Speak with an agent to find the farm and ranch
loans that are of interest to you.
You may also find that a family member or friend can provide
farm and ranch loans to you too. If that is the case, have a
contract drawn up outlining principle borrowed, interest rate, loan
repayment information, etc.
Owning your own farm or ranch is a dream for many Americans.
Research wisely and you will find farm and ranch loans that are
affordable to you.
About the Author
Mark Lambie is the founder of The Loan House a website that allows consumers to quickly and easily get information on refinacning mortgages
Article Source: http://www.simplysearch4it.com/article/9839.html
|If you wish to add the above article to your website or newsletters then please include the "Article Source: http://www.simplysearch4it.com/article/9839.html" as shown above and make it hyperlinked.|
| Some other articles by Mark Lambie|
|Rhode Island Mortgage Loans|
Whether you live in the Blackstone Valley, Block Island, East Bay, South
County, Warwick, Providence, or Newport you know that Rhode Island
offers so much to you. "Little ...
Getting a Nashville Mortgage Quote
Purchasing a new home requires much research on your part.
Working with a realtor and finding a real estate closing attorney ...
Nashville Mortgage Companies
You've entered into a contract to purchase your new home. The sellers
are anxious to see if you can come up with a loan and you are pressed
for time. What to do? ...
Finding a Mortgage in Louisville
Louisville, Kentucky is a charming city located in the heart
of the Bluegrass State. The University of Louisville is
Searching for a Mortgage in Lexington ?
Lexington, Kentucky is where you want to live, right? It is a
lovely city! Getting a Mortgage Lexington is your first step
toward purchasing your next home. Let's ...
Miami Online Home Loans
Living in Miami, Florida has so much to offer. Tropical weather,
mild winters, lovely beaches, a thriving night life, a diverse