Loan for hunting land...best rates?

[trophyhunter]

Recent rates with the Ag Lending firms like Capital Farm Credit have been in the 6.5% range for 30 year fixed notes.

One thing I enjoy about Capital Farm Credit is the patronage refunds. I realize I'm getting back my own "interest money"........but I like that suprise in the mail twice a year!

[unclefish]

Recent rates with the Ag Lending firms like Capital Farm Credit have been in the 6.5% range for 30 year fixed notes.

One thing I enjoy about Capital Farm Credit is the patronage refunds. I realize I'm getting back my own "interest money"........but I like that suprise in the mail twice a year!

Yep I like that too.....the wife really likes it and I tell her our place is "making money". LOL.

[FJTMEGA]

I have used Central Texas Land Bank on 2 different raw land purchases. They have great rates based on your credit of course, they also offer patronage refunds and 10,15 and 20 yr fixed notes.

[BSOB]

Cabellas Lone Star Outdoors Radio Show - Cable Smith

Look for the podcasts in itunes or whatever phone you have. I subscribe to the show podcasts and listen on my way to and from the lease. Don't remember exactly which week that land purchase deal was. But the show is great so download the last few and enjoy.

The guy Cable was interviewing was Mike Shelley of Lone Star Ag Credit. He is a buddy of mine and we went through credit training together, and a great guy. He runs the Sherman Office for Lone Star AC. But, in Junction your best bet is probably Capital or another farm credit. They usually can stretch a loan a little further out (longer term) than a local bank. The rates will be a little better in my opinion too for a raw land type deal if you go with a farm credit organization.

Good luck.

Dang I typed it in on ITUNES on my IPHONE 5 and nothing came up or nothing close to it. Maybe I need to try it on my computer.

Hmmmm?

[Kdog]

Can you do a home equity loan? I am far from an expert but I think you would possibly get a better rate.

[Grayson]

Dang I typed it in on ITUNES on my IPHONE 5 and nothing came up or nothing close to it. Maybe I need to try it on my computer.

Hmmmm?

He's a poster on here. Goes by Cable I believe.

[Shallowater]

Dang I typed it in on ITUNES on my IPHONE 5 and nothing came up or nothing close to it. Maybe I need to try it on my computer.

Hmmmm?

Go the the podcast app, or download the podcast app (apple has their own podcast app).

Open it up and search for Lonestar outdoors . It should pull up in there. It is worth the effort if you drive as much as I do. Listen to it when you want to and, sorry Cable, skip the ads.

I love these podcasts, I also get one called Harcore History, by Dan Carlin. Very cool way to kill a 4 hr rd. trip. I did some guiding in NM for antelope this year and I sepnt 16 hours each weekend solo in the truck. I made it through the rise and fall of the roman empire on one trip.

[BSOB]

I called Capital Farm Credit and they gave me a rough interest rate of 5.6-5.80% on a fixed loan depending if I want a 15 or 20 year note.

Can you do a home equity loan? I am far from an expert but I think you would possibly get a better rate.

I cannot do a home equity loan because I do not plan on building on this land. It is strictly for hunting.

[Kdog]

I meant borrow against the equity you might have in your home. (Assuming you own one and have that much equity.)

[BSOB]

I meant borrow against the equity you might have in your home. (Assuming you own one and have that much equity.)

Not an option I don't believe since I have only owned a house for 1.5 years and don't have much in it.

[BSOB]

Cabellas Lone Star Outdoors Radio Show - Cable Smith

Look for the podcasts in itunes or whatever phone you have. I subscribe to the show podcasts and listen on my way to and from the lease. Don't remember exactly which week that land purchase deal was. But the show is great so download the last few and enjoy.

The guy Cable was interviewing was Mike Shelley of Lone Star Ag Credit. He is a buddy of mine and we went through credit training together, and a great guy. He runs the Sherman Office for Lone Star AC. But, in Junction your best bet is probably Capital or another farm credit. They usually can stretch a loan a little further out (longer term) than a local bank. The rates will be a little better in my opinion too for a raw land type deal if you go with a farm credit organization.

Good luck.

Ok I got the podcast downloaded. I was searching thru all the podcasts and could not find one titled anything like that.

Do you remember the title of it or when it was?

Thanks again

[kingranch]

Not to change the subject but if it's just for hunting then u should really consider doing the math as it would be more beneficial from a hunting perspective to lease a property on a longer term. Buying at your budget in the junction area may only get you under 100 acres.. Now if you plan on building a house that's a different story

Do the math.... If you spent 5 grand a year on a trophy type lease you could hunt for the next fifty years on a place most likely 50 times bigger and better than your 100 acres u want to buy....

And what happens when your place doesn't produce or has a poor population from natural drought etc... Then u are stuck with an expensive place that you can't even enjoy hunting...Or like in my case the neighbors high fence around u and cut off any deer movement!

Just food for thought

[BSOB]

Not to change the subject but if it's just for hunting then u should really consider doing the math as it would be more beneficial from a hunting perspective to lease a property on a longer term. Buying at your budget in the junction area may only get you under 100 acres.. Now if you plan on building a house that's a different story

Do the math.... If you spent 5 grand a year on a trophy type lease you could hunt for the next fifty years on a place most likely 50 times bigger and better than your 100 acres u want to buy....

And what happens when your place doesn't produce or has a poor population from natural drought etc... Then u are stuck with an expensive place that you can't even enjoy hunting...Or like in my case the neighbors high fence around u and cut off any deer movement!

Just food for thought

I wish it was 100 acres

But I will not pay for a lease when I already own 50 acres that joins this land that I hunt on. This is heavily wooded land and joins my other 2 parcels. Quality deer have already been killed on my land.

I care more about owning my own land and having it in the family for years to come then leasing a place for trophy bucks.

I can do what I want on it without anyone telling me what to do. Plus I plan on building on my other land if I get this for place which will strictly be hunting.

[.270]

I wish it was 100 acres

But I will not pay for a lease when I already own 50 acres that joins this land that I hunt on. This is heavily wooded land and joins my other 2 parcels. Quality deer have already been killed on my land.

I care more about owning my own land and having it in the family for years to come then leasing a place for trophy bucks.

I can do what I want on it without anyone telling me what to do. Plus I plan on building on my other land if I get this for place which will strictly be hunting.

When you own it, you also don't have any lease drama threads, or landowner changed the rules threads. I am looking to buy 30-50 acres out in that area hopefully next year. Can't put a price on the ability to say this tract is MINE. IMO

[Codie]

I called Capital Farm Credit and they gave me a rough interest rate of 5.6-5.80% on a fixed loan depending if I want a 15 or 20 year note.



I cannot do a home equity loan because I do not plan on building on this land. It is strictly for hunting.

that is not bad at all - I would go ahead and check with your local lenders/credit unions as well. Our rate on a 15yr fixed would be 4.95% so it IS possible that a local lender can beat those rates at Capital Farm Credit - just depends on if any of your local lenders have a desire to have quite a few land loans on their books or not. The good news is that even if you don't have any local lenders that have a desire to have land on the books with some lower rates a 5.6% rate is still pretty good for land only. Good luck on your purchase!