Jul 20, 2023
This week on Huntin’Land, Joe and Butch talk with Ben Elliott of Alabama Ag Credit about land loan interest rates and
repayment options. We learned that land loan rates are tied to farm
credit bonds, which are non-government guarantee Triple A-rated
stocks used to secure funds down to the loan level. We learned that
loan repayment periods vary from 15 to 30 years depending on the
property size and that no points or rate lock options are available
to lower the interest rate. We also discussed the options available
for construction loans and revolving lines of credit and the
benefits of Alabama Ag Credit’s patronage program, which can
effectively reduce the cost of borrowing. Lastly, Ben shared his
crystal ball predictions for the end of 2023, with two more quarter
rate hikes to be expected.
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