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% in production for farm loan?

ArcheryIA44

PMA Member
I'm starting to think about getting that perfect 80 acres;)

I've been following the discussions on bare land lender, etc, and I was wondering if anyone knows if there is a percentage of the land either tillable or currently under production such that it would qualify for a farm loan.

If I find that nice 80 with 15 acres currently rotating beans and corn, it that good enough?

Thanks,

Brian
 
From my experience and the lender I work with there is no % of some type of productive land. I just purchased 135 acres last fall that has 25 acres of tillable in the CRP program and the rest is timber. If there was any productive land or not was not an issue. They just want to make sure you can make the payments! Maybe for some lenders it comes into play.
 
I'm starting to think about getting that perfect 80 acres;)

I've been following the discussions on bare land lender, etc, and I was wondering if anyone knows if there is a percentage of the land either tillable or currently under production such that it would qualify for a farm loan.

If I find that nice 80 with 15 acres currently rotating beans and corn, it that good enough?

Thanks,

Brian

Brian: You should be Ok with that combo, they like to see some income, but depends on the lender. Good luck, I hope you get a nice 80!
 
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