Land Loans

[JDog83]

Anybody recommend who to use on securing a loan for land? Looking at a couple of tracts and trying to figure who to use.

[DUKFVR]

Codie on here did our last one. He is with Graham Savings. Had good service with Capital Farm Credit on others.

[jomw10]

I just closed on a property a month ago with Capital Farm Credit. Very easy process, a lot simpler than a regular mortage!

[Tuffbroadhead]

One thing to consider, your smaller local banks will issue land loans and usually hold the loan for the entire life of the loan vs loan brokerages or larger banks will usually sell the loan to other entities over the life of the loan. Another thing is know exactly what type of loan you want and what type of down/closings costs will be expected.

[boy wonder]

What interest rates are y’all seeing on loans for land?

[Tuffbroadhead]

What interest rates are y’all seeing on loans for land?

.
6 months ago is was close to 10 percent, now with rates dropping we are seeing in the 6 to 8 percent range depending on length of loan

[miket]

What interest rates are y’all seeing on loans for land?

I got 8.25 in October. Capital Farm Credit Arkansas

[HTOWN]

I used capital farm as well. Great company to do buisness with.

[JDog83]

Codie on here did our last one. He is with Graham Savings. Had good service with Capital Farm Credit on others.

Do you have Codies’s contact info by chance?

[Dave W]

Remember with Capital Farm Credit, they have a "rebate" program which lowers your effective interest rate.

[Austin]

Just also remember that “rebate” which is actually a dividend is taxable income so the true effective rate is not reduced by as much as they will lead you to believe.

they are still a great option and I am not knocking them just do your own due diligence

[DUKFVR]

Do you have Codies’s contact info by chance?

Sent ya a PM. Good Luck!

[corps2010]

Barksdale Federal Credit Union in Shreveport. I got 8.00% fixed at 15 years and they only required 5% down payment. 318-549-8145

[mjhaverkamp]

I used Lonestar Ag, they were good to deal with.

[erikm1981]

Capital is my go to. They are simple to deal with.