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69 members (frosty, Stacey, RareBreed, odocoileus, James, desertdog, farmerjay, mzzy, Dog, DThrash, AC870, donia, jjust, knock him down, metalmuncher, BentBarrel, AU7MM08, El_Matador, GATA87, woodduck, treemydog, Okatuppa, BC_Reb, Claims Rep., paintrock, Bigwhitey, doublefistful, thayerp81, JoeyWommack, burbank, sevenup, Warhead, calebs111, HawkPilot, CNC, Butchman205, AU338MAG, jdstephen44, ts1979flh, deadeye48, BearBranch, sw1002, 1hunter, Jtide, Mdees, gwstang, Big Bore, CrappieMan, cartervj, UA Hunter, jhardy, BobK, Albowhntr2, akbejeepin, pickenstj, Cactus_buck, bambam32, GomerPyle, Geeb, Jus_me, Bglen, XVIII, Goose, skymech, 5 invisible),
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Key:
Admin,
Global Mod,
Mod
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Joined: Feb 2014
Posts: 348
4 point
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4 point
Joined: Feb 2014
Posts: 348 |
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
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Joined: Mar 2015
Posts: 4,884 Likes: 5
12 point
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12 point
Joined: Mar 2015
Posts: 4,884 Likes: 5 |
Alabama ag credit has been amazing to deal with they have treated me right
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Joined: Jun 2015
Posts: 15,386 Likes: 80
Old Mossy Horns
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Old Mossy Horns
Joined: Jun 2015
Posts: 15,386 Likes: 80 |
That ship has sailed homie.
Was quoted 8.84% in early October on a 20yr land loan.
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Joined: Jun 2021
Posts: 5,644 Likes: 34
Inter Loin Gourmet
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Inter Loin Gourmet
Joined: Jun 2021
Posts: 5,644 Likes: 34 |
what is the loan rate now?
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Joined: Dec 2010
Posts: 6,076 Likes: 19
12 point
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12 point
Joined: Dec 2010
Posts: 6,076 Likes: 19 |
Ag credit will give you as good a deal as you are capable of getting.
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Joined: Jun 2015
Posts: 15,386 Likes: 80
Old Mossy Horns
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Old Mossy Horns
Joined: Jun 2015
Posts: 15,386 Likes: 80 |
what is the loan rate now? Considering rates are headed one direction right now…my guess is around 9.5% on a 20yr
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Joined: Sep 2014
Posts: 8,551 Likes: 5
14 point
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14 point
Joined: Sep 2014
Posts: 8,551 Likes: 5 |
I was quoted 8% a couple of weeks ago when I inquired about some land that joins mine.
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Joined: Jul 2019
Posts: 1,912
8 point
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8 point
Joined: Jul 2019
Posts: 1,912 |
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.
Last edited by redgineer; 11/08/22 08:37 PM.
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Joined: Jul 2006
Posts: 7,197 Likes: 14
14 point
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14 point
Joined: Jul 2006
Posts: 7,197 Likes: 14 |
Alabama ag credit has been amazing to deal with they have treated me right
Same
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Joined: Mar 2018
Posts: 16,939
Old Mossy Horns
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Old Mossy Horns
Joined: Mar 2018
Posts: 16,939 |
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
They who can give up essential liberty to obtain a little temporary safety, deserve neither liberty nor safety.
Ben Franklin
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Joined: Sep 2022
Posts: 664 Likes: 5
4 point
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4 point
Joined: Sep 2022
Posts: 664 Likes: 5 |
Alabama ag credit has been amazing to deal with they have treated me right
Ditto
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Joined: Sep 2012
Posts: 17,217 Likes: 24
Old Mossy Horns
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Old Mossy Horns
Joined: Sep 2012
Posts: 17,217 Likes: 24 |
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 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.....
Did you know that Beer Nutz are over a Dollar...and Deer Nutz are under a Buck...
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Joined: Mar 2018
Posts: 16,939
Old Mossy Horns
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Old Mossy Horns
Joined: Mar 2018
Posts: 16,939 |
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 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
They who can give up essential liberty to obtain a little temporary safety, deserve neither liberty nor safety.
Ben Franklin
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Joined: Feb 2011
Posts: 11,345 Likes: 18
Booner
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Booner
Joined: Feb 2011
Posts: 11,345 Likes: 18 |
Have had good experience with First South Farm Credit. Get numbers from both is my recommendation.
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Joined: Dec 2009
Posts: 9,834 Likes: 14
14 point
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14 point
Joined: Dec 2009
Posts: 9,834 Likes: 14 |
AL Farm Credit. Expect over 8%, probably closer to 9%. As others stated, the dividend lowers that rate though.
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Joined: Jul 2020
Posts: 951 Likes: 19
6 point
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6 point
Joined: Jul 2020
Posts: 951 Likes: 19 |
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..
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Joined: Aug 2016
Posts: 3,192 Likes: 11
10 point
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10 point
Joined: Aug 2016
Posts: 3,192 Likes: 11 |
Maybe these high interest rates will lower the astronomical prices people are asking for land
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Joined: Jan 2001
Posts: 29,728 Likes: 165
Freak of Nature
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Freak of Nature
Joined: Jan 2001
Posts: 29,728 Likes: 165 |
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.
Lord, please help us get our nation straightened out.
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Joined: Jul 2019
Posts: 1,912
8 point
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8 point
Joined: Jul 2019
Posts: 1,912 |
I'm pretty sure all farm lenders give out dividend payments once per year.
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Joined: Feb 2014
Posts: 348
4 point
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4 point
Joined: Feb 2014
Posts: 348 |
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!
Last edited by Hunt4Jesus; 11/09/22 10:56 AM.
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