Fortune Financial Solutions has an outstanding reputation of serving the agricultural industry. We offer a variety of loans to help with your agricultural needs.
The Ag Equity loan is a revolving line of credit with a 30-year term which uses the equity in real estate for collateral. Proceeds may be used for any purpose related to a farm and ranch operation. Use the money to purchase livestock, make improvements or for operating costs. It can be used in place of an operating loan so no more annual renewals.
We offer competitive rate long term loans to purchase or refinance agricultural properties. Terms are 15, 20, 25 or 30 years and flexible in payment options. Choose from fixed or adjustable rates. Up to 70 percent loan to value in real estate.
Our loans have the following features:
- No prepayment penalty
- Option of monthly, annual or semi-annual payments
- No annual financial statements
- Low rates
- Long-term fixed rates
Loans under $1.5 million may qualify for the “Fast Track” program for quicker loan approval and less underwriting. Features unlimited cash out and same flexible terms. Loan to value 55% or less and other criteria apply.
The Ag Assist Loan is a combination of a first mortgage loan with a Farm Service Agency second mortgage. Take advantage of this loan program to help your operation with less cash out of pocket required and to improve your balance sheet.
First Mortgage Terms
- Loan to value up to 45%
- Debt to asset ratio 60% maximum
- Credit score of 660 or higher
- Total debt coverage ratio 1.10:1
- Government-funded or guaranteed portion must equal 25% of total loan request
- Subject to approval based upon underwriting
Second Mortgage Terms
- Combined Loan to value up to 85%
- Acceptable credit history
- Loan Approval subject to state or federal second mortgage guidelines
- First and second mortgage loans to close simultaneously
- Subject to FSA fund availability and loan limits
- Borrower must be an owner operator
Please ask us for more details on this and other loan options. We are here to assist you!