General
What are your current interest rates? Will you/are you going to refinance Land, Opp Note, House?
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Just got our home mortgage lowered from 5.75% to 3.125% E.C. IL
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I inquired today from my loan officer at Farm Credit to compare rates from a couple of weeks ago and to my surprise it was higher!
I asked him what is making mortgage rates trend higher in recent days?
He said....Well, that is the million dollar question, because typically the mortgage rates trend with the 10 year treasury bonds, which are at all time lows. Most of the long term rate trends toda...
Just used Farmers National Bank in NW IL to refinance our mortgage from 4.875 to 3.25% 30 year.
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Thanks for the info! I’m curious what rates I’ll get quoted tomorrow
Do ours this past Friday.
Just locked it in this past wednesday. At the beginning of the application process rates were at 3 but came up .25 surprisingly
I just got approved to refinance with FBN. How long ago did you get that rate? I was recently told rated have come up since I started the application work a week ago
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Just refinanced land loans to 3.95% thru local bank using Farmer Mac
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Started out this past fall at 4% fixed for 20 years on land with the local Ag bank. Just took in the FBN rates and got it lowered to 3% fixed for 25 years. I did cost me $500.00. But, that is a drop in the bucket to what it will save me over the next several years.
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who Is this through?
my calc shows you'll save $800 per month.
I use Iowa Farm Finance. 3.81% locked for 10 years
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Lowered land real estate loan by 1.75% this week
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Also curious, and for how many years, fixed or variable?
What is your rate %
Currently working on refinancing a real estate note that we setup almost 2 years ago with our bank. Used FBN to leverage the bank, currently the bank has not come down to what FBN said we should be able to refinance it for. FBN currently has the identical loan approved through farmermac just as the bank was doing for around 0.5% lower. Looks like we will be able to lower our interest rate by 1....
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FBN has a Finance Line that should get you to someone that can help. ************. It was on one of the emails FBN sent out.
Who did you contact at FBN to help you ?
Yes I just did today. 15 yr fixed Under 4% with annual dividend back.
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Don't go through FCS. Like the individual from Indiana, I too experienced their POS ways. Never missed a payment and all of a sudden they wanted all their loans paid off. Far happier with my local bank who cares about young farmers and the future of agriculture in our area. FCS system should be completely done away with. No more government assistance for them IMO. I would testify against th...
I have never had a sliver of a bad experience or impression from Farm Credit. They had a good year last year and shared their earnings with their members. Granted it wasn't a grain check, but they did give back to their members. They lowered the interest on my operating loan 3 times last year. Also lowered every loan I have by .5 to a full percent in the last 3 months.
When times are good, FCS will want to loan the world to you. When times are bad, they pull the rug out from you even though you don't miss one payment to them. I know, because that happened to me! Go to your local bank because they will work with you as long as you are up front with them.
I've only worked with FCI for 1 year now, but I've been very happy with the service to date. I'm curious what you didn't like, as well.
Why do u say that ?
Hope it wasn't farm credit. POS company
Where did you get that