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| Yes, I agree lenders obviously just want you to fit a certain 'mold'. However, I find that then I don't fit this certain "desperate mold" that is offered by government products.
Wanted to ask about the KDFA on new farm projects? Anyone familiar?
I guess what I am ultimately trying to avoid is the "salesman tactic". I sold motorcycles in college for 5yrs (and really enjoyed it), and really helped me learn about finance. I was encouraged to get people to "just fill it out and try" but to be honest, I am trying to get some honest "pre-qual" answers from American Ag that I don't feel I am getting. If they can't even offer a gauge on this, I really don't want a hard hit on my credit if I am not in their special camp.
I really do NOT want a government product, but I want a little more than "let's roll the dice and see" with other lenders.
I mean really, I want a loan for 35% of the market value, proved out through an appraisal (not biased of course), what lender would not want those odds? They would rather the guy that has nothing at all, has $4000/mo income on is W-2 with his new job, and wants to "farm"...?
I guess what really frustrates me is it sounds like they basically consider my cash in the bank, requested amount, collateral value, and FICO score. I found that VERY little is given to the deep 6 figures of assets that are free and clear. If if they do, it will come with some deep anal probe. I am just trying to prove that if I have made it 20+ yrs without any financial hardships, and acquired tons of assets for business use, and have minimal debt, I should be worth a shot! | |
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Farm loan options? Even consider FSA at all?
