| GrainTrader - 12/11/2012 08:16
i can borrow money for my house at 3.5%, but bank wants to charge 5% for farmland...... thinking of taking out of house for land.... not set in stone, but just considering. i won't be doing it to purchase any more land then if i didn't do it. so no fear of over purchasing any more then i'm already considering over purchasing! ha ha.... get it!
better do your homework on the home loan, general practice is to have a significant fee for a cash-out refi
and I'd look around if 3.5% is the cheapest money you can find on a home loan, 15 year money=2 5/8%
not to mention that there should be better priced money for farm R/E at your local Farm Credit, especially if you factor in the dividend(no guarantee but I've rarely not see them pay) |
Home Re Fi Question. Cash Out....
