At United Farm Mortgage, we provide specialized loan solutions for farm and land acquisition. Loan costs can add up fast if you’re not careful, but when you lock in a great interest rate, you’ll be grateful for years to come. A reduction in rates can save you significantly, both monthly and over the life of the loan.
For example, lowering your rate from 7% to 3% on a $300,000 mortgage could save thousands of dollars. Imagine having a steady source of income and a long-term plan in place—that’s what we help you achieve by guiding you through the process of purchasing farmland.
Navigating Land Acquisition Financing
For land acquisition, understanding local zoning laws is crucial. Stay on the right side of the law by checking in with these rules, which lay out the dos and don’ts of development. Once we touch down, the excitement truly begins, putting us at the doorstep of something amazing. What kind of projects are legal to pursue, exactly? Don’t get left behind; tap into the growing clamor for environmentally friendly projects and watch your investment’s value take off—it’s all about anticipating what’s next in the market.
Environmental issues and surprise infrastructure costs can quickly turn a well-laid plan into a train wreck—don’t let them catch you off guard. Traditional banks might not be the best bet for financing, but United Farm Mortgage looks to alternative sources, like government-backed programs and private investors, to get the job done.
When it’s time to move into the construction phase, you’ll need additional funding for utilities, infrastructure, and roads. Don’t let unexpected costs derail your project—having a solid draw schedule and a cushion of contingency reserves will keep you on track.
Creating a Solid Loan Application
Creating a strong loan application is a key step in securing financing through United Farm Mortgage. Your farm must meet eligibility criteria as an agricultural enterprise—non-farm operations don’t qualify. In addition, you’ll need to demonstrate your legal capacity to assume loan obligations, maintaining a clear credit history with no Federal or State convictions. It’s also essential to show that you cannot secure sufficient credit elsewhere.
Applicants must be U.S. citizens, non-citizen nationals, or legal resident aliens. You must also have managerial experience in farming, demonstrated by either three years of direct farming involvement or equivalent leadership roles within the past ten years.
Applicants are required to contribute at least 5 percent as a down payment while financing up to 95 percent of the property’s value.
Exploring United Farm Mortgage Benefits
United Farm Mortgage provides tailored loan solutions specifically for the agricultural sector. Whether you’re starting a new venture or looking to expand your existing operation, we offer flexible options that fit your unique needs. From hydroponic farming to organic practices, our loans are designed to support diverse agricultural activities.
We also provide flexible payment plans, making it easier to balance part-time farming with other financial commitments. To qualify, you must have been involved in farming for three out of the past ten years.
We take pride in supporting family-run farms, and our loans reflect that commitment. Applicants who share farming responsibilities under one entity, typically through marriage or family ties, will benefit from our specialized programs for beginning farmers.
At United Farm Mortgage, we prioritize competitive interest rates and personalized attention, guiding you through every step of the loan process to make land acquisition and farm expansion attainable. Whether you’re just starting or ready to grow, we offer the financial tools to help you achieve your goals.
