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| I made my annual land payment this morning, and my banker said some of the notes have a 2% max on how much the rate can increase. Then he looked at mine to see if it had a cap and said no. ( I already knew it didn't) So I asked him if they could put a cap on mine, so he is going to talk to the other sr. partner and let me know next week. He would write a 7 year fixed for a half point higher than my current rate (that would cost me $2000 more per year for the next 4 years and only extend 3 years further than my current loan) so I didn't think that sounded like a better choice. All a guessing game. Thanks for your thoughts.
By the way, my 1 year fixed operating/cattle note rose to 4.72% from 4.5% last year. | |
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how do my interest rates compare?
