Financing land?

J Kuch

Yearling... With promise
What are you guys seeing for term rates on just land? Can you get a 20 year term on hunting land?
 
Not sure what today’s rates are but I did a 15 year at 3% in December. Think a 30 year was about 3.125%

FCS Farm Credit Services.
 
Not sure what today’s rates are but I did a 15 year at 3% in December. Think a 30 year was about 3.125%

FCS Farm Credit Services.
Was your loan for land only?
 
What are you guys seeing for term rates on just land? Can you get a 20 year term on hunting land?
What state?
I did a deal in July with farm credit for land only. 20 years 2.7%
I just recently did a shorter term deal with a local bank for 3% on a smaller farm but set a 20 year amortization
 
Was your loan for land only?

Just land. 75% timber 25% crop ground.


What state?
I did a deal in July with farm credit for land only. 20 years 2.7%
I just recently did a shorter term deal with a local bank for 3% on a smaller farm but set a 20 year amortization

I missed 2.85% by a week :(

mine was in MO.
 
My wife and I did a HELOC (1.75% var). It’s a variable rate but we plan to pay it off fast enough that the rate isn’t too important....even if it resets upward a couple of times. (10 year amortization schedule .....pay off in 2 years).
 
My wife and I did a HELOC (1.75% var). It’s a variable rate but we plan to pay it off fast enough that the rate isn’t too important....even if it resets upward a couple of times. (10 year amortization schedule .....pay off in 2 years).
This - if it’s feasible is a nice way to go. I did the same thing with my land in 2016 - after a lump sum initially we paid it all off quickly. Granted, this was a small piece of property and our numbers were in the tens of thousands of dollars, not hundreds of thousands. That could make a big difference.
 
I think mine from last year at this time was 4% or so. But Just got it bumped down to 3.5 and I went fixed. Getting a good rate is important, but I prefer to hammer on on the debt for "fun land" fast enough that a 1/4 or 1/2 a percent doesn't make that huge a difference.
 
Better work fast and stay away from variable rate loans. There's only one way they're about to go!
 
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