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Talked to two banks about loan rates. We are in the process
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footballjunkie
Posted 3/1/2021 17:47 (#8866412)
Subject: Talked to two banks about loan rates. We are in the process


of planning to build a new house. The first bank quoted us 3.7 percent on the 11 year chicken barn/farm mortgage. Then we separate ten acres for the farmstead and we would have 2.87 percent on the house/30 years/ no money down due to equity in the land. The second bank is the one that currently holds the mortgage on the farm. Their chicken barn note is 3.5 on a 3yr arm, that’s what we winged in 2016. Then we survey off the farmstead and build. 2.8 percent/30 year fixed/ no money down due to equity.
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