| Indianajones - 9/30/2014 14:38
The key to getting the loan approved is being able to make it flow with either farm income or off farm income. They look at every expense including family living and with the low crop prices, it will be harder to do.
I did it in 1999 and the key was my off farm income.
INDY
So just for S&G, would a single guy making $55k+/yr off farm, no equipment cost, minimal other loans, but a home included in the sale, you think that would be enough? I'd assume they would want the 5% down or whatever as well? |