Simple Solutions for Agricultural Financing Now Available
Do you currently own a farm? Thinking of purchasing one? Perhaps you will be passing one down the family line? Or are you considering Eco Energy projects such as biogas, solar, water or wind power technologies? Perhaps you aren’t a farmer at all and want to purchase a property in a rural town with some farm land to rent out. Check out some examples of just how we have helped our clients in these unique situations:
Mr. Farmer-Brown came to us after speaking to his bank of over 30 years about obtaining financing for purchase of property using the equity from his free and clear farm, Mr. Brown was sadly turned down by his bank. We were however able to give Farmer-Brown 80% of the appraised value of his entire farm providing him with more than enough funds to purchase the property and have surplus for future needs and development of the property.
Mr. and Mrs. Smalltown were sick of living the big city life and wanted to settle in a rural community unfortunately their bank told them they could not provide financing for such an area with 20 acres of land as the size was too large and their income too small.(most banks only use the house+5 acres when qualifying for a mortgage) Fortunately for the Smalltown’s they were referred to us! In speaking with the clients they had mentioned renting out a portion of the land to some farmers and VOILA – this is income we can use to qualify the mortgage on great 5 year rates! Mr and Mrs. Smalltown are now happily relocated.
We feel farmers are a large part of the backbone that is our great country – working hard putting food on our tables. As such, we’ve worked hard here at Loewen Group Mortgages with our partners creating lending solutions to meet their unique financing needs. With this, we can all then “grow” together.