Farmer Mac offers competitively-priced loans and a variety of term options – including long-term fixed rate loans – all while maintaining a local banking relationship with Iowa State Bank!
Farmer Mac Loan Highlights:
- No minimum loan size
- Terms from 7 to 30 years with amortizations ranging from 10 to 30 years
- Competitive interest rates
- Adjustable and variable rate options available
- Fixed rates up to 25 years help to reduce your exposure to rate risk!
- Open pre-payment without penalty on most products
- Funds can be used for real estate purchases, refinancing and improvements
Types of Eligible Real Estate:
- Row-crop farmland
- Livestock production facilities
- Packing houses
- Other facilities closely related to production agriculture
The Federal Agricultural Mortgage Corporation, commonly known as Farmer Mac, is a government-sponsored entity, established by Congress as a secondary market for agricultural mortgages and rural utility loans.