In the market to buy farm property? Check out SCSB's New Financing Options for Ag Real Estate Loans. An alliance between SCSB and the American Bankers Association enables us to offer new loan products in conjunction with Farmer Mac that help finance existing or new ag mortgage loans at a discounted rate to our customers. Along with those discounted rates are a variety of new options including rates that are fixed for 10, 15 and 20 years.
Who is Eligible?
These new loans are designed to benefit those who are US citizens involved in agriculture and agribusiness as well as farmers and ranchers.
What is Eligible?
These loans can be used for a purchase of property and can also include facilities used in storage, processing and marketing of agricultural products.
What Loan Options are Available?
SCSB now offers a variety of ag real estate loan products to suit your individual situation including:
- Variable Rate Mortgages - The 5-year variable rate mortgage has a fixed interest rate for the initial 5-year period. Then the interest rate adjusts for two additional 5-year periods.
- Fixed Rate Mortgages - There are 10-year, 15-year and 20-year fixed rate loan options available. Payment frequency options include monthly, semi-annual or annual payments. By offering these flexible loan terms and competitive rates, SCSB can provide those involved in ag a risk management tool to balance short-term borrowings with a fixed-rate mortgage. Contact a loan officer at any SCSB location for more details as to how this new loan program can give you the best deal on ag real estate purchases.
- Farm Service Agency (FSA) beginning farmer loans
- Iowa Agricultural Development Division
Contact an SCSB Lender
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