How much do you have to put down on a farm loan with no doubt
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If the property does not include your primary residence, the down payment will be closer to 25% to 30%. If you do not have the luxury of buying land for its full price in cash, obtaining a land loan through a lending institution is one option available to you. In order to be eligible for the down payment loan, you must prove that you can secure funding for the remaining 50% of the purchase price of the farm.
If you need one, you might have to make as much as a 50% down payment.
In order to be eligible for the down payment loan, you must prove that you can secure funding for the remaining 50% of the purchase price of the farm. If you went for a bank loan instead and took 75% in loans, then your downpayment is going to be $125,000, of which $25,000 must be paid in cash. Keep in mind ag real estate prices are good right now, just because you pay $7,000 per acre for a piece of land, doesn’t mean it. Still, there are some lenders who let buyers put just 20% down.
