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Mark    Posted 02-07-2004 at 22:52:25       [Reply]  [No Email]
I'm going to buy a Farm when I'm 18. I'll be 100k short of what I need. Where is the best place to get a loan from? a local bank, a big bank, iv herd people say the usda? Any sugestians? what interest could i expect?

donna in w.v    Posted 02-08-2004 at 07:41:36       [Reply]  [Send Email]
Don't know where your from but here in W.V. lots of people lease their farms either because it was left to them and they are city people or like my neighbor ,he's 90+ and just to old so he put up a doublewide where he lives and leases the old house and all the land to a nice family. he gets to roam his land and is sort of schooling the young fella and his wife. {by the way the young fella has first option to buy which i think is rather important.

Mike    Posted 02-08-2004 at 06:34:51       [Reply]  [No Email]
Courting the bankers is a great idea. But I believe your had also better be courting a good co-signer for the loan. Good luck,

henrich Iowa    Posted 02-08-2004 at 03:10:23       [Reply]  [Send Email]
I would go with your local bank first, if you don't know the staff there well, get to know them and let them know what your intentions are. When discussing this with your banker, start at the bottom and tell them you would like to speak with the president of the bank or whomever is the person that runs the place. If they blow you off, move on to another bank, its their loss. I would deal with the small town bank rather than the big conglomerates, first name basis is always better than the staff at the counter asking who you are and do you have an account with them. Never give up your dreams, dreams are what make reality happen. Good luck, I wish you success.

Willy-N    Posted 02-07-2004 at 22:59:30       [Reply]  [No Email]
It will be real hard to get a loan for that much at 18 years old. You need to develope your credit first. Getting a loan for a farm you will need to prove you know what your doing and show you have the resourses to pay the loan back. Just don't want you to get your hopes up to soon. You probley will have to get someone to owner finance it or start out with a smaller place and build up. Good Luck, Mark H.

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