Farm and Ranch Land Loans
How to Get Land Loans for Farms and Ranches
Farm and Ranch Loans
Farm and ranch loans may be used to purchase land, livestock, equipment, feed, seed and supplies. They can also be used to construct new buildings or make improvements on your farm.
Farm and ranch loans are often provided to beginning farmers or ranchers who cannot qualify for conventional loans because they have insufficient financial resources.
Farm and ranch loans can also help established farmers who have suffered financial setbacks from natural disasters, or whose resources are too limited to maintain profitable farming operations.
Common Mistakes Made by Land Loan Borrowers
1. Soliciting price information without providing all of the necessary information about the loan.
2. Assuming that the lender who offers the best price on one type of loan will also have the best price on another.
3.Selecting the lender offering the best price over the telephone, on the radio or in the newspaper.
4.Assuming that you can shop Lender A today and Lender B tomorrow.
6.Not shopping for a loan.
7.Not being prepared with your loan information.