Bend Mortgage Brokers- Your Local Farm and Ag Lending Experts
Matt Boytz
July 8, 2024
Our Agricultural Loan Products- Tailored Solutions for Rural and Agricultural Needs
I am excited to announce that I am now able to offer a range of agricultural loan products designed to better meet the needs of rural and agricultural properties. Adding this to our portfolio of traditional lending products truly makes us a one-stop shop for financing. Whether you’re looking to buy a hobby farm or a rancher needing capital for livestock, I have the right solution for you. We’ve seen a hole in rural and ag lending in Oregon and wanted to offer a second local lending option. Here are a few of the major products we offer—feel free to email me with your scenario, and we will see what best fits it.
A Few of Our Farm and Rural Products –
- Hobby Farm Loans
- Purpose: Purchase land with pre-existing homes for non-commercial agricultural use. This is for properties that traditional conventional financing doesn’t like, such as equestrian facilities, vineyards, or any light farm-type activity.
- FAQs and Facts:
- Generate income from hobby farming
- House up to 50 heads of livestock
- Own and combine multiple parcels of land
- Loans up to $2 million with Schedule F (Farm) income allowed
- Minimum of 5 acres, up to 160 acres (more allowed case-by-case)
- Ag-exempt properties allowed but not required
- Purchase, rate/term, and cash-out refinances available
- Primary or second homes allowed
- Land value can exceed 30% of appraised value
- Dwelling value only required to be 25% of value
- Horse facilities, shed homes, barndominiums, log homes, and multiple homes allowed on property
- Fixed 15- and 30-year terms
- Multiple Dwellings: We can finance properties with up to 3 homes/dwellings as long as the primary home is not manufactured. The other homes, that are not the primary dwelling, can be manufactured homes.
- Rural Residential Loans
- Purpose: Finance rural homes and properties.
- FAQs and Facts:
- Fixed-rate 15- and 30-year loans, allowing agricultural properties, purchase, refinance, and cash-out options.
- Ideal for living in rural areas with properties ranging from 5 to 160 acres.
- Multiple Dwellings: We can finance properties with up to 3 homes/dwellings as long as the primary home is not manufactured. The other homes, that are not the primary dwelling, can be manufactured homes.
- Commercial Farm Loans
- Purpose: Support farming business goals like buying additional land or consolidating loans.
- FAQs and Facts:
- 30-year fixed-rate loans
- Adjustable-rate loans
- Cross-collateralization, and more
- Ideal For: Dairy farming, nurseries, wineries, vineyards, orchards, and commercial crops.
- Land Loans
- Purpose: Finance agricultural land purchases.
- FAQs and Facts: Loans for properties that are agricultural in nature, a minimum of 10 acres, with 680+ credit score requirements.
- Ideal For: Purchasing rural land for agricultural purposes.
Bend Mortgage Brokers – Local Experts in Lending
I am committed to helping you get the financing that best fits your needs. I know that it can be stressful, and that’s why having a local team to help you through this process is so much better than someone in a call center three states away. We know the local nuances that come with the areas we serve. With members of my team available in person in both Bend and Eugene (and everywhere in between), we can give you the hands-on service you deserve.
Get Started Today
Ready to explore your agricultural loan options? Or see if your property is a fit for our products? Shoot me an email or call, and we can see what works best to fit your goals
Matt Boytz
Direct: 541-359-7212
Office: 541-972-8616
NMLS 1294957
NMLS 2552455
Matt@BendMortgageBrokers.com
Apply Now!
www.BendMortgageBrokers.com