I am looking at purchasing some land for hunting.
Where are some good loan options with low interest and yr options. New to it all
Is there a 20 or 30 yr or is it only 15? Who do y’all recommend for bank or loan?
95 acres possibly little less.
Thanks

Alabama ag credit has been amazing to deal with they have treated me right

That ship has sailed homie.
Was quoted 8.84% in early October on a 20yr land loan.

what is the loan rate now?

Ag credit will give you as good a deal as you are capable of getting.

Considering rates are headed one direction right now…my guess is around 9.5% on a 20yr

I was quoted 8% a couple of weeks ago when I inquired about some land that joins mine.

Recreation land loans are higher interest than mortgages, because they are higher risk. and interest rates are up. Don't wait around for rates to drop though, because they are only going up. Inflation is also lowering the value of the down payment you have saved.

I got mine in May for 6.5% through First South Farm Credit. Rates were competitive, good communication, and a simple application process.

My identity was stolen around the same time. It made me concerned they were sloppy with my information. It was probably some hacker or my ex-wife though lol.

Same

Check with Alabama farm credit..as stated rates may be a bit high but they offer a good dividend…I get a check back for a few grand every year

Ditto

I do too jb, how in the world do they do it? My dividend check covers 2 monthly payments per yr... Ive asked about putting more money in it and they wont let you for some reason I forget.....

That’s bout what mine covers as well

Have had good experience with First South Farm Credit. Get numbers from both is my recommendation.

AL Farm Credit. Expect over 8%, probably closer to 9%. As others stated, the dividend lowers that rate though.

if your willing to play with these high rates, Al Ag all the way... As stated above my annual dividend checks always covered my property taxes & a couple payments..

Maybe these high interest rates will lower the astronomical prices people are asking for land

There used to be a saying years ago, and I guess it isn't true any more, but if you have to borrow money to buy land then no one will give you the loan.

I'm pretty sure all farm lenders give out dividend payments once per year.

Thanks everyone, land is in Mississippi forgot to mention. Those ag credits I’ll check with over here. Yea interest rates are killing us. We are holding out on building our home due to these rates. This property has potentially popped up in the area I’ve always wanted/waited on. Borders my buddies place who has cabin etc. This has 3 acre pond and will be clearcut. Thinking 1k an acre for dirt but what y’all think? We can pay cash for it, but that dips out of our home building account!