USDA farm loans

 

 Call 631-451-7400  FSA

USDA Farm Loans
Call  631-451-7400
The finance Experts
Serving clients since 1987
Financial Services of America     -  All 50 states

What is a USDA Loan?

A USDA Guaranteed Loan is Government insured 100% purchase loan. These Loans are serviced by direct lenders                         ...that meet federal guidelines and only offered in rural areas.

  
 

This Is The Second Mortgage as a revolving line of credit

Jim Pendleton - MrMortgageTM

 

AgEquity

Program Highlights:

• Revolving line of credit secured by 1st mortgage on real estate

• Draw period of 5 or 10 years

• Variable Rate based upon Wall Street Journal Prime

• Unlimited draws and repayments during the draw period

• Terms up to 30 years

• Loan used for business purposes

• Minimum Loan size $50,000

• Loan-to-value 5 year draw period < 50%

• Loan-to-value 10 year draw period < 45%

Credit Standards:

• Minimum Credit Score 680

• Debt to Asset Ratio < 50%

• Total Debt Coverage > 1.35:1

• Current Ratio > 1.00:1

• Property Debt Coverage 5 year draw period > .80:1

• Property Debt Coverage 10 year draw period > 1.00:1