HOBBY FARM LOANS
- Properties with a minimum of 5 acres
- Properties with up to 160 acres (more allowed on a case-by-case basis)
- Ag-Exempt Properties allowed
- Loans up to $2 million and Schedule F (Farm) income allowed
- Purchase, rate/term and cash out refinances to pay off debt, home or land improvements, or cash in hand
- Consolidate land and construction loans in to permanent mortgage loan
- Primary homes or second homes
- Land value can exceed 30% of appraised value (other lenders don’t allow this).
- Dwelling value only requires to be 25% of value (lower allowed on a case-by-case basis)
- Multiple parcels allowed and parcels within reasonable proximity of each other (combine properties)
- Farming and farm income allowed, if not sole income
- Horse facility with indoor/outdoor arena and no limitation on horse stables
- 50 heads of livestock or less are acceptable
- Shed homes, Barndaminiums with typical living quarters, log homes and multiple homes allowed on property
- Fixed 15 and 30-year terms
Land Loans and Full Time Farm Loans
- Bare Land loans for either recreational/ag potential from 500k-100 million (can have up to 30% improvements on it if not bare land)
- Full Time Farm operations with multiple parcels up to 100 million (almost all farm types allowed)
- Cross Collateralization for the Down Payment allowed as well as seller carried seconds.
- 1 month arm’s up to 30-year fixed program