There is a difference between (Farm Loans) and (Agricultural Land Loans). Farm loans would include loans for purchase and refinance of agricultural producing property. These are usually paid over a period of 25 to 30 years. Farm loans could also include operating loans to purchase seed, fertilizer, etc. or anything needed to establish a growing crop. Farm loans would also include loans to purchase machinery needed in the farming operation. Farm loans could also be made to pay living expenses until crop is harvested.
Agricultural Land Loans on the other hand are made exclusively for the purchase of real estate used to produce farm products. They can also be used to refinance long term loans. Agricultural Land Loans must be made on property that produces agricultural product. A 5-acre piece of property with no crops of any kind would not qualify. Most Agricultural Banks are more interested in the shorter-term farm loans than the long term 30-year loans. However American Ag Finance is interested in the long-term loans used to purchase or refinance AGRICULTURAL property. Rates would be competitive with other commercial long-term loans.
Please check the web site “Americanagfinance.com” to see if there is a “Farm Loan Program suited for you.