If we’re being honest, there is an endless void of financing options out there for just about anything—this includes agriculture! Because agriculture is such a costly and laborious venture, it’s important to make sure you are seeking financing in the right places.
As agricultural experts in the financing industry, the team at United Ag Lending want to make sure you don’t settle without the following 7 things when searching for homestead financing.
1. Flexible programs
Financial institutions that offer one-size-fits-all financing aren’t suitable for the agricultural industry. Your land and home will look vastly different than your neighbor’s. It’s important for financial experts to offer flexible homestead loan programs that can accommodate different homesteaders.
At United Ag Lending, our programs are built to change with each individual’s situation. Once we learn about you and your homestead plans through a consultation, we start piecing together your unique program.
2. Agricultural expertise
As we said, anyone with agricultural expertise knows how different ag financing is from other types, such as traditional home mortgages. It’s much smoother and safer to work with financing providers who have had personal experience with farming and agriculture. This experience helps us understand the nuances of each homestead.
3. A variety of rate options
No one loan program fits all, so no one rate option fits all. We work to get to know each homesteader so that we can personalize a rate that suits their lifestyle and financial situation. Our homestead financing programs offer both adjustable and fixed rate options.
4. Different repayment options
Repayment plans are another part of the homestead financing process that is unique to each individual. If you finance with United Ag Lending, you can make monthly, semiannual, or annual payments.
Note: On hobby farm loans we offer solely monthly payments.
5. Low down payment
Many ag loan companies require a high down payment, usually somewhere between 35% to 50%. We put trust in our clients and only ask for 25%.
6. Customizable terms
Just like with repayment plans, each homesteader has a different payoff timeline. That’s where the significance of customizable terms comes in. We offer loan terms anywhere between 1 and 30 years. You can pay your loans off as quickly or slow-paced as you need; we do not penalize for early payoff.
7. A clear process
We favor a clear process in every situation in life. This is especially true with financial processes that can get bogged down with numbers and other specifics. At United Ag Lending, our process is broken down into three steps: consultation, recommendations and application, and serving as your continued resource.
During each step of the way, our experts will break down all the fundamentals in digestible portions. We will clearly communicate what any unfamiliar concepts mean and what we need from you. Plus, we’re always open to answering all the questions you have.
Explore homestead financing with United Ag Lending
No matter what homesteading means to you, one thing is for sure: homesteading is a way of life. With a clear plan and a clear homestead financing process, you can make this way of life happen sooner rather than later.
We believe in the equilibrium between your financial security and your dreams.
Schedule a consultation with us.
Questions?
If you’re still in the research phase of your homestead mortgage planning, we have answers to all the questions you may have along the way: call us or send us a message.
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