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Purchases or Refinance
 Open farm land, range land, permanent plantings, dairies and other agri-business facilities

  • First Trust deed Secured
  • Minimum loan size - $100,000
  • Amortizations form 10 to 25 years
  • Loan terms of 10 to 20 years
  • Payments – Monthly, quarterly, semi-annual and annual
  • ARM interest rates for 1, 3, 5, 7, 10 years
  • Fixed interest rates for 10, 15, 20 years.

Revolving Equity Lines of Credit
Open farm ground. Use – annual operating expenses, investments or development to permanent plantings.

  • First trust deed secured – Open farm ground only
  • Minimum loan size is $150,000
  • 5 or 10 year draw period
  • Semi-annual interest due August 1, and February 1 during draw period
  • Variable rate tired to 30 day LIBOR
  • Minimum Draw $5,000 – Unlimited
  • Term is either 10 or 15 years

FSA Guaranteed Loans
Westwood Capital Services, Inc. offers FSA Guaranteed Loans through American Farm Mortgage Company a preferred lender of government guaranteed loans through the Farm Service Agency, a division of the United States Department of Agriculture (U.S.D.A.). The following are some basic questions and guidelines to determine qualification for a guaranteed loan under FSA.

How Do I Know If I Meet The Qualifying Criteria?
To qualify for an FSA Guaranteed Loan, The applicant(s) must:

  • be a United States citizen or legal resident alien
  • not be able to secure credit without a guarantee
  • have a satisfactory credit history (determined by the lender)
  • not have any Federal debt delinquencies
  • not have caused FSA a loss
  • have the ability to repay the loan
  • be able to put up adequate collateral for the loan
  • be actively engaged in a farming or ranching operation.

What Is The Maximum Loan Size?
The maximum amount of an FSA loan is $813,000, which may be used to purchase farmland, make improvements on current structures, raise new structures, or to refinance the borrower’s debt.

What Can Loan Funds Be Used For?

  • Purchase farmland
  • Make improvements
  • Refinance debt

What If I Have A First Mortgage That I Don’t Want To Pay Off?
An FSA guarantee is occasionally used when the first mortgage holder isn’t going to be paid off, but a borrower needs the equity in his operation to make improvements or restructure debt. Provided applicant has enough equity left, AFMC can make a loan using a second mortgage as security and obtains an FSA guarantee as added security.

Part-Time Farm & Rural Home Loans
In addition to the more traditional types of farm loans, WCS also offers products geared toward the part-time farmer and rural home owner.

Part-Time Farm Loans
Part-time farmer loans were created typically for borrowers who earn the greater part of their income by means other than farming. The security for this loan type is primarily the borrower’s residential property, usually including excess land on which some type of agricultural crop and/or livestock is intended.

Is My Property Eligible For A Part-Time Farm Loan?
The residence(s) on the property must be a single-family, owner-occupied primary residence(s) or second home. Usually, the value of the residence should be a minimum of 25% of the total appraised value. In addition, the borrower must be a United States citizen or legal resident alien.

How Much Acreage Do I Need To Have?
There is no minimum or maximum requirement for acreage. However, if the property is less than 5 acres, the borrower must be able to provide documentation that the minimum annual gross sales of agricultural crops generated from the property is $5,000.

How Much Would I Be Able To Borrow?
Part-time farm loans can be made up to $2.9 million dollars.

What Kind Of Rates Could I Expect To Get?
Adjustable-rate mortgages, with 15 and 30 year maturities, as well as, fixed-rate mortgages, with 15 and 30 year maturities are available. AFMC can advise you on which option is right for you.

Rural Home Loans
Rural home loans make it possible for the homeowner wishing to reside in the country to obtain long-term fixed-rate financing. This type of loan is for the borrower who uses their property primarily as a residence. However, income may be generated from a small farming operation.

Would My Property Qualify For A Rural Home Loan?
In order to qualify for a Rural Residential Loan, the applicant(s) must:

  • have property located in a rural area inhabited by 2,500 people or less
  • have the value of their residence be 50% or more of the total appraised value
  • have the loan secured by a first lien.

What If I Am A Mobile Home Owner?
Manufactured Housing is acceptable (double-wide and larger on a permanent foundation).

How Much Can I Borrow?
The maximum loan amount is $359,650.

What About The Terms Of My Loan?

  • Monthly payments
  • 15 year or 30 year fixed rate loans
  • Competitive rates
  • No pre-payment penalties