bhunter50

Ok, now that I have got your attention.............haha....I know....not cool.....

The REAL reason for the thread is for landowners or just anyone who can help.....

I just wanted to see if anyone could give me an estimate of what kind of mortgage payment (include interest rate) on a real estate loan for $140,-150,000 at a 30 year term..with Taxes escrowed...I'M NOT ASKING FOR ANY PERSONAL INFORMATION......just any information.....educated guesses....or estimates will help me plan for my dream farm!

If you can provide any guidance or assistance please let me know.....

BTW, I know I can get this information from Farm Credit....but just wanted to get your input first. THanks!

Oh I almost forgot..................

rage2blade

Your not getting any help now!!

AR Bowhunter

$975.00 a month or in that area.

OHbowhntr

Not quite....
That type of loan, unless you have it secured with something is going to be written at a VARIABLE rate, which means the market crashes in 2 yrs, and the interest rate may be 15-20%, then you are paying FAR more. If you have a HOME that you can use as collateral, you could do it on a re-finance, and likely get down in the $900-1000 range assuming you have goo credit, but that would be LOAN payment alone, not sure what taxes run in your area, but that would likely be additional, and you may also have to pay PMI (Private Mortgage Insurance), which I'm not sure what the HELL that is good for since we are in a position where $700 BILLION is pending to bail our banks out d/t the BAD loans that they issued to people who must not have had PMI, otherwise those loans would have been "secured."

TEmbry

First the government forces banks to give out loans that are crystal clear to go bad.
Then they force us to buy out these failing loans and businesses.

Gotta love logic.


I'd also agree that 975 is on the low side of what to expect, based on what I know from loans half that size on rental properties.

Will your dream farm be utilized in any way to help pay itself back somewhat? Crops? CRP? Native Grass Programs? Cattle? Or is it strictly a chunk of land out of your pocket for nothing other than hunting?

AR Bowhunter

Yea that was just a guess! You could always get it an ask for a Bail out later.

MeanV2

I wish I was like the Government. Need more money?

Print it!![8D]

Dan

bowmanaj

Need a better view?






My dad's been trying to sell his house for a year and 3 months. Crappy times

Muliefever

Mine is $950 a month.. Just to give you an idea.... 4.7% intersest on a 30 yr fixed.

early in

That's much better. It looks like a record class rack to me!