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Loan Products and Rates


AFM Secondary Market Products with 30-day Rate Lock pricing

 As of: 12/15/2014 

Blue text indicates current recommended products

Product Payment Options Prepayment Options Term Amortization

Current Rate *

Ag Equity LOC S/A, Interest only first 5 years Open - pmt date 30 20 or 25, after draw period 2.71%
1 Month ARM Mo, S/A Open - pmt date 15 years 15 or 25 years 2.80%
1 Year  ARM Mo, S/A Open - pmt date 15 years 15 or 25 years 3.00%
3 Year ARM Mo, SA Open - pmt date 15 years 15 or 25 years 3.70%
5 Year ARM Mo, S/A Open - pmt date 15 years 15 or 25 years 4.17%
7/1 ARM Mo, S/A Open - pmt date 15 years 15 or 25 years 3.64%
10/1 ARM Mo, S/A Open - pmt date 15 years 15 or 25 years 3.87%
10 Year VRM20 Mo, S/A Open - pmt date 15 or 20 years 15/20 years 4.85%
10 Year VRM30 Mo, S/A Open - pmt date 25 or 30 years 25/30 years 4.96%
15 Year VRM20 Mo, S/A Open - pmt date 20 years 20 years 4.98%
15 Year VRM30 Mo, S/A Open - pmt date 25 or 30 years 25/30 years 5.16%
10-Yr Fixed Mo, S/A Open - pmt date 10 years 10 years 4.56%
15-Yr Fixed Mo, S/A Open - pmt date 15 years 15 years 4.85%
15/25 15Yr Fixed Mo, S/A Open - pmt date 15 years 25 years 5.15%
Poultry 10 Yr. Fixed Monthly, S/A Open on Payment date 10 Years 10 Years 4.51%
Poultry 15 Yr. Fixed Monthly, S/A Open on Payment date 15 Years 15 Years 4.80%






Secondary Market product notes:

Fast Track (Farmer Mac) applications from $200,000 - $999,900 in size, with 50% Maximum Loan to Value and minimum credit score of 720, net worth on pro forma Financial Statement must exceed total debt by 15%.  Standard Farmer Mac applications from $300,000 - $9,900,000 [$29.5 million under specific conditions] with full documentation underwriting (65% maximum LTV, minimum credit score 690).  The above rates are for typical size and risk loans.  For loans in excess of $4,999,900 the maximum LTV is 60%.

*Rates for loans in excess of $5M deduct 0.10% from the above posted rate.  For larger (>$5M)  and higher quality loans a total of 0.20% may be deducted for reduced risk (Platinum rates).

Platinum products may be available, these products require a minimum loan size of $1,000,000 and other underwriting requirements indicating reduced risk.  Full underwriting applies on all Platinum rate products.. Platinum rates are NOT available for Fast Track loans because of minimal underwriting on Fast Track.  Platinum rates are 0.20% less than standard rates.

3/1, 5/1, 7/1 &  10/1 ARM products, the Rate is FIXED for the first 3, 5, 7, or 10 years and then adjusted annually thereafter, Credit score of 680 or greater required.     Semi-Annual (S/A) payments are due Jan 01, and July 01.  Open prepayment on any payment date for all products, payment of interest to payment due date is required

Integrated Poultry products: For facilities more than one year old the maximum LTV is 65% and the maximum term is 10 years, for new facilities (less than one year of operations) up to 75% LTV may be allowed with maximum term of 15 years.  These are FIXED rate products.  Producers for major financially sound integrators only.

SPLIT LOANS

NOTE:  we now offer split loans (two notes with different products -- both notes secured by the same mortgage).  This flexibility allows you to FIX your rate on a portion of the total mortgage (insulating against probable future interest rate increases), and at the same time to take advantage of lower rates currently found on the shorter term adjustable rate products (with open prepayment). 

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