Residential Needs

If you are a full-time or part-time farmer, Farm Credit has a broad range of home financing programs available to you regardless of where your personal residence is located. You can live in the city, or in the country. And you can even obtain financing for rental and vacation homes. You can also obtain financing for a bare land lot to build a future home; or you can obtain an equity loan to improve your home.

What do I need to know?

• Our most competitive rate programs are based upon monthly payments and require that your home be at least 30% of the value of the property where it is located.
• Your farm and off-farm income will be analyzed to determine credit-worthiness.
• The loan advance rate is based upon the size of loan you are seeking. For example, the maximum loan allowed is 85% of the appraised value for loans up to $300,000; for larger loans, the advance rate scales back to 75%; for loans over $1 million, the advance rate is 65%.
• Even if your cash-flow does not allow monthly payments, Farm Credit can still provide home financing with either quarterly, semi-annual or annual payments. Interest rates are a bit higher for these options.
• Loans can be established for terms of up to 30 years. Sometimes Farm Credit limits the term of the loan to 25 years.

Lot loans for farmers

As a farmer, you can obtain financing to purchase a homesite or bareland lot where you intend to build a home in the future:

• No time limit to begin construction
• Terms can be up to 25 or even 30 years depending on your situation

Home construction loans for farmers

You can build knowing you’ll have the security of a fixed rate and that you don’t have to refinance when the project is complete. Plus, FCS is one of few lenders that offers you a chance to be your own contractor. We realize, many farmers have trade and construction skills. You do have to have complete plans and demonstrate your construction experience. But once you meet those requirements, there are great opportunities to save money on your project.