There are various reasons to consider refinancing an agricultural land loan:
- Lower monthly payments.
- Receive lower interest rates.
- Alter the maturity of your farm loan.
- Options for flexible payments.
- Change from an adjustable to fixed-rate ag loan.
- Grow your agricultural operation.
- Enhance your property.
What’s more, many traditional lenders will refuse to refinance agricultural land loans – even when they have financed an existing or previous loan. Conventional lenders continue to implement rigid ag lending requirements, thus forcing new and existing borrowers to seek refinancing elsewhere.
Some typical reasons traditional lenders refuse to refinance farm or ranch loans:
- Schedule F Income
- Manufactured Housing
- Ag-Exempt Status
- Home to Land Value Ratio
- Ag Zoning Restrictions
- Poor Credit
Through our AgAmerica Lending Program, Bankers South is well-equipped to refinance ag loans that other conventional lenders refuse. Refinancing agricultural real estate is unique from other types of conventional financing. Because Bankers South specializes in these loan types, we are aware of all the logistics and nuances involved, and are better able to cater to the needs of farmers desiring farmland financing and refinancing.
Some of the agricultural loans we offer include:
- Commercial farm loans
- Ranch loans
- Hobby farm loans
- Timberland lands
- Citrus loans
Bankers South is committed to getting to know all of our customers. We are here to gain a comprehensive understanding of your business intentions, answer any and all questions, guide and inform you throughout the entire farmland financing process, and of utmost importance, discover the ag loan that is right for you.