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
- 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
- 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.
Do I Know If I Meet The Qualifying Criteria?
To qualify for an FSA Guaranteed Loan, The applicant(s)
- 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
- 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.
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
Loan Funds Be Used For?
- Purchase farmland
- Make improvements
- Refinance debt
If I Have A First Mortgage That I Don’t Want To
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
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.
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
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.
Much Would I Be Able To Borrow?
Part-time farm loans can be made up to $2.9 million
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.
My Property Qualify For A Rural Home Loan?
In order to qualify for a Rural Residential Loan, the
- 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.
If I Am A Mobile Home Owner?
Manufactured Housing is acceptable (double-wide and
larger on a permanent foundation).
Much Can I Borrow?
The maximum loan amount is $359,650.
About The Terms Of My Loan?
- Monthly payments
- 15 year or 30 year fixed rate loans
- Competitive rates
- No pre-payment penalties