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NE | I currently 3 years in a 40 year farm note with the USDA for first time farmers, at 4.625 interest. And I'm debating in graduating out of my loan and getting into a 20-30 year note with Farm credit or an other Bank since interest rates are ultra low. I realize my payment will go up some going to a shorter note, but I don't like working with the usda and I'm loosing my buying power on my equity, to buy equipment. Has anyone ever been in a similar situation or have any recommendations for me on what to do. My original loan amount was $300,000 on 320 acres of average farm ground. | |
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USDA Farm Loan 40 year note vs. Farm Credit 30 year note
