Because agricultural finance can be complex and unclear, farmers often face challenges in estimating their farmland loan payments and understanding the impact on their financial situation. To address this issue, FBN Finance has introduced a Farmland Loan Calculator that allows users to model different scenarios based on factors such as credit score, payment frequency, and loan options.
The calculator is designed to help farmers plan for future land purchases by providing estimates of rates and fees upfront. This enables users to compare various loan options before making a decision about purchasing farmland, ranch land, timberland, or hunting land.
To use the calculator, applicants answer questions regarding the desired loan amount (with a minimum requirement of $150,000), estimated land value and acreage (minimum of 10 acres), and credit score. Based on this information and current rates at FBN Finance, the tool provides an estimate of semi-annual or annual loan payments.
FBN Finance states: “At FBN Finance, our team strives to put Farmers First by helping you secure a successful financial future for your ag operation.” The company offers assistance whether farmers are looking to expand with new land purchases, refinance existing farms, or make improvements to ranches.
Land financing through FBN Finance is available only where the company is licensed and requires membership in Farmer’s Business Network, Inc., along with meeting underwriting requirements. All loans are subject to approval; interest rates and fees depend on individual circumstances.
Farmers interested in learning more can use the Farmland Loan Calculator or contact an FBN Finance advisor for additional guidance.