United Farm Mortgage > Farm Loans
You could be entitled to farm loans at highly competitive interest rates. The loans are available to both part-time and full-time farmers. Farm credit is available to farmers in different states as long as you fulfill the lenient conditions offered.
1. Start, expand, improve, strengthen, market, or transition ranch or family farm operations. The size of the operation does not matter as long as it earns a reasonable income each year and the loan amount is above $250,000.
2. Commence farming as a woman farmer, ethnic minority, or racially underprivileged farmer.
3. Enable siblings to maintain the operation.
4. Are you involved in organic farming, want to add value, or make your direct sales efficient? You are one of the targets of farm loan programs.
5. Are your operations classified as alternative farming methods? This category covers aeroponics, hydroponics, freight container farming, and vertical farming, among others. You will get more details from officers of the organizations to evaluate your eligibility.
Farm loans are available as full-time farm loans or part-time farm loans. This depends on how you run your farm. If all you do is farm on land, you will be eligible to get funding. If you engage in other activities and take farming as a hobby or pass-time activity, you will still be eligible.
Here are some basic qualifications under both the part time loan program and the full-time farm loan program. If you have questions or you are not sure if you qualify, give us a call and we can discuss your options.
• Minimum Credit Score: 660 (at least one of the three major bureaus)
• Minimum Loan Amount: $400,000.00
• Minimum Acreage: 40 acres (exception: unless permanent planting operation)
• Location: Property must be located within the lower 48 United States
• Income: Must have sufficient income to service all debts (personal and business)
• Purchase: Down payment of at least 30% or additional farm land to use as collateral
• Refinance: Must have at least 30% equity in your property.
• Assets: The sum of all assets owned (including household furniture) must be double what your accumulated debts equal, post purchase – – 60% debt-to-asset ratio
At United Farm Mortgage, we offer competitive rates for land purchases and have repayment terms customized to fit your business’s unique needs.
Our representatives are attentive and friendly and we are always sure to service you from start to finish. We create effective loans, but we also make it simple and hassle-free.
A beginning farmer is an entity or individual or who meets these requires below:
• Has not operated a farm for more than ten years
• Noticeably participates in the farming operation of the newly purchased land.
• Meets the FSA loan eligibility requirements of the program to which either he or she is applying.
• Participates in the business operation of a farm for at least three years out of the ten years prior to the date the application is submitted
• Does not own a farm or ranch greater than thirty percent of the average size farm in the county as determined by the most current Census for Agriculture.
Another qualification to note for entity applicants is that all members must be related by either marriage or blood and all applicants must be considered beginning farmers.
Agriculture is one of the most important industries in the world. Farming is vital in any country, whether the crops are grown for food or raw materials. In the United States alone, farming is an industry that has been around for centuries as the country’s main food source. Farm owners are no stranger to the difficulties of maintaining an entire farm – from taking care of the animals to procuring seeds or grains, to the upkeep of machinery and equipment. Specialty farms also engage in research and development so they can grow better produce and have more sustainable methods. The costs of maintaining a farm can be overwhelming at times, and some farmers take on loans to help in the expenses.
United Farm Mortgage farm loan programs are for farm owners and ranchers who are unable to avail of commercial loans through traditional banks or credit institutions. Full-time loans are available for farmers who rely on their farms as the source of income and livelihood – including those who are deep into research and development for sustainable farming. Part-time loans are available for hobbyists who keep a farm but is not the main source of livelihood and just enjoy running a farm.
Farm loans are also available for start-up or first-time farmers, whether they want to purchase a piece of farmland or to obtain seeds, grains, or the livestock that they wish to grow. New farm owners take on a huge responsibility as they also study their lands and which crops grow best, as well as learning how to acquire and maintain equipment and manage farmhands who will be most helpful to them. Because farming can be daunting for first-timers, financial assistance is a huge help in easing up the pressures and the stress of the agricultural industry. Whether the farm is inherited or a first-hand purchase, United Farm Mortgage can assist first-time farmers in starting the farm of their dreams.
For some farmers who are planning to expand their land, farm and ranch loans are also available for them. This loan can cover purchasing more land or renovating their current facilities or upgrading equipment or even procuring more livestock. Farmers who wish to expand does not always mean they have the financial abilities to do so, and taking on a loan can aid their success in farming and their expansions.
250
Minimum Loan Amount
50
Maximum Loan Amount
35
Years Mortgage Experience
20
Loan Programs
Farm mortgage loans can be availed by farmers who may be struggling financially as they maintain their land. While it does not always mean that the farm is going bankrupt, some farmers take this loan for improving their facilities or to aid in the overhead costs of keeping the farm. This can also be availed by farmers who would like to expand their farm, but may not be ideal for first-time or start-up farmers.
Most farms are handed down to family, and there are times when the new owners would like to transition to a different kind of produce. Farm loans are also available for such transitions, especially if it involves purchasing a different set of equipment and building new facilities to make room for the incoming products. For other family-operated farms, expansions can also be an option especially if they want to add more produce or livestock or even transition from produce to livestock or vice versa.
As farms become successful, some need more funding for marketing their products or livestock. They can also avail of farm loans to aid in the promotion or developing more materials as they advertise and increase their profits and earnings as a farm. This may include research and development as they improve their farm and even more marketing strategies as they gain clients and customers.
Because of the increase in opportunities, United Farm Mortgage aims to assist startup female farmers, believing that agriculture knows no gender and women farmers can be just as successful as males. As female farmers explore this industry and further develop their skills and abilities, farm and ranch loans are available for financial assistance.
This assistance also extends to ethnic minorities and racially underprivileged farmers who want to start a new life in the country. The farm loans are also available for those who wish to broaden their opportunities in the industry by increasing production and making more profits for their farms. They can avail of loans for expansion or loans that are specifically curated for their ethnicity.
Farmers advocating sustainable farming and organic farming can also avail of any of the farm loan programs. For organic farmers who want to widen their clientele or who want a more efficient delivery system, taking on a loan can help develop their ideas into fruition. The loan can help farmers in their direct sales as well as in the improvement of their current products through more research and the use of more effective practices. Profits may come much slower for organic farmers because of the absence of pesticides or chemicals to speed up crop growth, and a boost in finances aids in the trial and error of testing out various cultivation methods.
Our customers are important to us because we genuinely appreciate the value the agricultural industry brings to our nation. Farming and ranching is hard work, and in times of unyielding weather and struggling economies, the challenges are even greater.
We understand complex financial structures as well as the issues attached with family-owned farms with multiple owners, and specialize in sibling buyouts. We have done many ranch loans for families in various states, and offer farm loans to the agricultural community.
Our services are designed to fit your financial needs and enable you to grow your business in the easiest way possible. Location is not an issue as we service farm and agricultural properties in all 50 states.
As alternative farming gains popularity across the United States, different types have taken off such as hydroponics where the crops are grown from minerals or gravel instead of the traditional soil. Aquaponics is another method where aquatic animals are grown alongside crops, in a system that uses the wastes of the animals to cultivate the plants, and the water used by the plants is circulated to be reused by the animals. These systems involve research on the best methods and effectivity, and loans can be useful for their advancement. Other alternative farming methods such as agroforestry or food forests involve plenty of work and profits may not come so quickly and so easily. Loans can help support the farmers as they continue with their work on the farm.
Urban farming and vertical farming are methods that appeal to hobbyists and availing of part-time farm loans to start up or maintain existing farms that may not necessarily be in sprawling traditional farmlands. These farms can be indoors or in special locations and construction of facilities can be pricey, and loans can help these farms take off and be profitable as it grows.
Farm loans can be availed by farms that suffered damages and losses due to natural disasters such as hurricanes, tornadoes, flooding, and other calamities. Some might qualify for government-sponsored or federal loans, but sometimes the amount will not be enough to cover the losses, so farmers can opt for private loan companies who can provide a higher premium at a lower interest rate with flexible terms.
United Farm Mortgage offers farm and ranch loans programs at competitive interest rates and in flexible terms, that will not burden farmers too much. We understand that traditional banks and lending companies have strict qualifications and that not all farm owners can meet these requirements and credit ratings. We offer a more lenient set of qualifications and our team of experts can evaluate farms and their abilities to pay back the loans through flexible terms.
Ethnic minorities and racially underprivileged farmers are also allowed to take on loans if they are not qualified in traditional banks. Our evaluators determine eligibility for funding for different groups, even women farmers. We believe in supporting farmers because we understand their value and importance in the economy and the entire country. Our team of experts can give credible advice on the loan process and how the loans can support the financial health of these farms.
Whether you are a part-time farmer, a full-time farmer, a beginning rancher, an advocate of alternative or sustainable and organic farming, a veteran farmer, or a farmer who wishes to broaden their clientele, there is a farm loan program that is for you. Give us a call for eligibility or reach out for expert advice on the United Farm Mortgage loan process.
Our farm loan programs cover different types of farms such as vineyards, groves, dairies, large equestrian operations, ranches, orchards, or even alternative farming methods. We can service across all 50 states, assisting farmers in their financial needs. Farm operations are not a factor as long as the farm earns a reasonable income annually and the loan amount is more than $250,000. Part-time farmers or hobbyists can also be eligible for part-time loan programs, alongside full-time farmers who want to take on full-time loans.
For over 35 years, United Farm Mortgage has assisted different farms and rural communities across the country, providing our expert advice on the ins and outs of the loan process while meeting the needs of farm owners and ranchers who come to us to avail of loans.
Contact Us For Your Free Rate Quote!
United Farm Mortgage 6500 W. 132nd Terr. Leawood, Ks. 66209
Phone: (913) 549-3776. Fax: (913) 273-0560
Our services are designed to fit your financial needs and enable you to grow your business in the easiest way possible.