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West Central Indiana | Looking at buying a local farm, 40 acres that is all tillable. Main concern is down payment, what type % will a lender require? Other is collateral,I do own 16 cow/calf but that is it. What is my best approach on this. The purchased ground would be cash rented to local farmer,cash rent alone would pay for the farm in 24 years. Not sure what taxes and interest would be per year but would feel a lot better if I could get a 30 year loan on it and pay off early if it works out ok. Thoughts? | |
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first time land buyer advisement
