Hobby Farms are usually smaller in size than other agri-business types, typically from 5-100 acres in size and are often dedicated to sustainable and eco-friendly farming practices, along with fair animal treatment that makes them attractive to fund for companies like FarmLender.ca.Īlthough small-scale farming may not be one of the main objectives of a banking institution when it comes to lending money, it happens to be one that FarmLender.ca looks favorably upon, and one which we will gladly assist our clients in locating funding for. Since Hobby Farms are not typically run as an agri-business they can seem to a more traditional lender to be of a greater risk. Hobby Farm loans cannot often be financed through traditional lenders, such as a bank, which is one reason why FarmLender.ca is committed to helping our clients get the money they’re in need of for their farms. We are here to assist you in securing your loan regardless of your current credit score or financial circumstances, therefore, with good credit, bad credit or no credit at all, you can be confident when calling FarmLender.ca.
It is through FarmLender.ca’s relationships with more than 50 lenders and investors that we are able to find the capital our clients need for Hobby Farm loans and other farming operations, quickly and inexpensively. With mortgage professionals in the private lending, corporate finance and other unique sectors, we are able help our clients obtain the loans they’re hoping to secure. If you thought your bad credit would keep you from being able to obtain the financing you require for the start-up or growth of your farm, consider the company more locals come to for capital.įarmLender.ca has been in the business of funding agri-business for 24 years, and in all that time, one thing has not changed, we are every bit as committed to day to the success of their clients as they first were when their doors opened. Contact us at 800 644-9039 or fill out an online application.Do you need financing for an agricultural venture? Canadians looking for Hobby Farm loans come to FarmLender.ca. So whether you are a first-time hobby farmer in Kansas or an experienced rancher in Arizona, we can help you find hobby farm loans to suit your needs and your budget. The lenders we work with have provided hobby farm loans to more than 300,000 farmers and rural homeowners. The Farm Loan Center works with clients in all fifty states, with an emphasis on helping veterans secure the financing they need. Your debt-to-income ratio must not exceed 42%, and the dwelling must be 25% of the overall value of the property. Your credit score should be over 620, and there is no stated income documentation. Your income must be verified with pay stubs and/or copies of your tax returns. There are also some borrower requirements that must be met in order to qualify. The hobby farm can serve as either your primary residence or your second home. You can receive financing for up to 80% of the purchase price without needing mortgage insurance, and refinance or cash out to 80% of the appraised value of the property. For example, the minimum loan amount for the hobby farm loans we can help with is $100,000 and the maximum is $3,000,000.
As with most things, there are some requirements and guidelines when you apply. But here at the Farm Loan Center, our loan specialists can help you find and apply for a loan that meets your needs. If you have tried to get hobby farm loans, you may have discovered that not all lenders are amenable to such an investment. The most recent USDA Farm Census, published in 2017 indicated that farms from 1-9 acres made up 0.1 percent of all farmland, accounting for 273,000 farms. Looking for hobby farm loans to make your dreams of self-sufficiency a reality? A hobby farm is commonly defined as “a small farm operated for pleasure or supplemental income rather than for primary income.” In recent years,thousands of Americans have discovered the joy and satisfaction of growing their own food, raising their own poultry and livestock, and reconnecting with nature through hobby farming.
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