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east central iowa | the paperwork does take forever, I had 3 different closing dates and almost had to get a bridge loan to close because the seller was getting tired of waiting and he was doing a 1031. mine was set up with 45% from fsa on a 20 year term, and the balance at my bank was 50% amortized on a 30 year loan but a balloon payment after 20 years. The 30 year amortization on 50% was required because mine was combined with an iowa beginning farmer program allowing for a lower rate also. the big kicker with the fsa is that amount financed has to cash flow. if it won't cash flow yourself or someone will have to help out putting more down | |
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