Any insight on what these are looking like right now?

Looking at a couple acres to buy and build on here north of DFW.

Capital farm was like mid 7s two weeks ago.

RBFCU has loans between 7.125% and 7.875% depending on length of loan.

OP land rates are not like residential in that they are much more customizable to the borrower. The land banks take a more wholistic view of your loan profile to make an offer. They look at the total summary of your financials.

Residential is pretty cut and dried. You meet minimum qualifications and you get XX rate. You really need to shop with 2-3 lenders to see what the options are for you.

If you're financing your construction project talk to those lenders as well. A one time close construction loan can include the lot purchase if the timing is right. Most of those lenders will have lot/land loans as well.

Fat fingered the emohji.

Has anyone been through a rate reset with capital farm credit? If so, how did it compare to current purchase rates? I have one that's still a ways out but want to be prepared.

What is your timeline to build? As others have said, you can do a one-time close interim construction loan and land purchase. Rural 1st would be a good place to look. https://www.rural1st.com/

Rural 1st is part of the Farm Credit System.

+1 this is what I used last year.

dsvogel05 said:

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What is your timeline to build? As others have said, you can do a one-time close interim construction loan and land purchase. Rural 1st would be a good place to look. https://www.rural1st.com/

Rural 1st is part of the Farm Credit System.

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Get in touch with your local Capital Farm Credit office. We can discuss a solution that best suits your needs whether it is an in-house portfolio loan or a Rural First product.

Guaranty Bank did a land loan for us last year. They were great to work with. Rates were as good as could be expected at the time.

Local banks seem pretty aggressive right now. Purchased a property last year and was quoted from several groups. Local banks were open to negotiate. Capital Farm Credit didn't even come close on a competitive rate and frankly acted uninterested which I was bummed about.