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What are you seeing for interest rates on operating notes going into 2020?
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5.76% variable western KS thru High Plains Farm Credit
1
What is FBN at for a rate
3
I would be right on that if there was any good land up for sale. Except it doesnt cash flow sooo....
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Don't Miss These Record-Breaking Land Financing Rates!
NOW is the time to refinance your land loan with these incredible interest rates.
1-Year VRM: 1.72%
7-Year Fixed: 2.82%
10-Year VRM: 2.94%
15-Year Fixed: 3.06%
20-Year Fixed: 3.17%
25-Year Fixed: 3.26%
30-Year Fixed: 3.34%
Whether financing a land purchase, refinancing your farmland or maki...
They quoted me over 8% by the time I factored in the originating fee..
I was a little thrown off by that..
Curious if these are lump sum loan payment or revolving lines of credit. For example $100,000 operating loan distributed all at original date of loan or throughout the year as needed. Banker is saying that I should be happy with 6% interest because it’s a revolving loan.
3
Im with *****, mine is the same as his only 4.5, you need to find a new banker
Get a new Banker
My 4.3% variable rate is a revolving loan. Only requirement is interest is zeroed out at renewal
4.25 south central Minnesota.
1
My lending bank is a co-op. Getting a dividend based off of 1% of 2019s highest balance.
3.99 Missouri
5.5 NE Kansas
1
7% NW kansas
Honestly I only borrow what money is 0% through fbn and jdf
3
My opinion is you are giving up some of the easiest money you can make by giving up 6+% cash discounts.
No rental ground or unexpected breakdowns?
6.5% south central nd variable
I have friends and neighbors at different banks that pay 1-2% higher. My banker says part of that is based off of risk. My bank is ag only maybe that’s why there so low??
1
Someone explain the wide variation. Prime rate is the same across the country. Banks borrow all at the same rate so why is there **** a 2% variance?
3
Could also be credit union vs small town for profit bank vs big corporate bank vs. Ag lender banks
Likely depends on the type of loan... how much collateral do you have... how much risk does the bank have
4.4%
5.25% variable in IL banker said it will most likely go down before the end of the year
4.75 south central mn
4.75 from east central SD
4.85 variable, 5.25 fixed for 3 years Northeast NE
5.25 variable in southern mn
4.3% currently on my operating loan west central MN
6.25 Southeast AR
Between 4.75% and 6.00% depending on the operation and line requirements in SW MN.
Was just quoted 5% variable or 5.25% fixed on a new note. North Central IL.
4.75% in southern Indiana.
7.05%
4.5%. Just took a budget note for 6%
Looking at 4.75% in Southeast Alabama.