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Affordable agriculture real estate financing with local lending decisions and loan servicing? We have a solution—Farmer Mac! You've likely heard of Fannie Mae and Freddy Mac, programs that help banks provide affordable mortgage financing to consumers. Farmer Mac is a similar program for ag real estate. The benefits Fannie Mae and Freddy Mac brought to consumer real estate financing, Farmer Mac brings to agriculture real estate financing.
Traditional Ag Financing vs. Farmer Mac Financing
Typically, when you need an ag real estate loan, you choose between a variable rate with a 5, 7, or 10 year balloon payment, or a 5 year fixed-rate loan that can be amortized for a maximum of 25 years. With these types of traditional financing, the interest rate changes over the life of the loan leaving the borrower with uncertainty over actual total costs. Farmer Mac financing also is fixed-rate financing but is fixed at the same rate over the entire life of the loan, minimizing interest rate risk. As a Farmer Mac approved lender, making loans through the Farmer Mac program allows us to offer in many cases, a lower rate than is possible with traditional ag financing. You receive the benefit of a secondary market loan while retaining local loan servicing and a relationship with your State Savings Bank lender. We think that's a good deal!
Contact us at 641-227-3161 or 515-457-9533 to learn more about our Farmer Mac long-term fixed rates for farms.
State Savings Bank is a Farmer Mac Approved Lender
West Des Moines
4800 Mills Civic Parkway
West Des Moines, IA 50265
102 S. Main, PO Box 67
Baxter, IA 50028