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Updated almost 9 years ago on .

User Stats

24
Posts
6
Votes
Holli Phillips
  • Residential Real Estate Broker
  • Westfield, IN
6
Votes |
24
Posts

What type of loan is best for residential farm/business property?

Holli Phillips
  • Residential Real Estate Broker
  • Westfield, IN
Posted

I am looking into purchasing a residential property that has 16 acres, event space, and horse barn.  This would be an income producing property that is already zoned for ag, commercial, and residential.  My only concern is being able to find a loan that works with my finances.  I have called Farm Credit and they told me I'd have to put down minimum 25% for a 25yr term.  Do I have any other options?  I don't think I can put 25% down due to the purchase price.  Thanks!