Loan Products and Rates

AFM proprietary products with 15-day Rate Lock pricing

Page down for rates on additional products

 As of: 08/25/08 

Blue text indicates current recommended products

Product Payment Options Prepayment Options Term Amortization Semi/Annual Payment Rate
Quarterly ARM Mo, S/A Open 10, 15, or 20 years * 20 Years 5.44%
1 Year Reset Mo, S/A, A Open 10, 15 or 20 years * 20 Years 5.76%
3 Year Reset Mo, S/A, A Open 15 or 20 years * 20 Years 6.55%
5 Year Reset Mo, S/A, A Open 10, 15, or 20 years * 20 Years 7.02%
10 Year Reset Mo, S/A, A POP (5,4,3,2,1) 10, or 20 years * 20 Years 7.33%
15 Year Reset Mo, S/A, A POP (5,4,3,2,1)  15 or 20 years * 20 Years 7.50%
10 Year Fixed Mo, S/A, A POP (5,4,3,2,1) 10 years 10 Years 7.02%
15 Year Fixed Mo, S/A, A POP (5,4,3,2,1) 15 years 15 Years 7.33%
20 Year Fixed Mo, S/A, A POP (5,4,3,2,1) 20 years 20 Years 7.48%
25 Year Fixed Mo, S/A, A POP (5,4,3,2,1) 25 years 25 Years 7.69%

(Rates for Secondary market products are listed below)

AFM proprietary product notes:

  • * Amortization NOTE:  if * in Amortization column pricing assumes a 20 year amortization, 10, 15, 25, and 30 year options are also available.
  • MINIMUM loan size is $1,000,000.  For loans greater than $20,000,000 pricing and terms are determined on a risk basis. 
  • Maximum Loan to Value is 65%.
  • All ARM and/or Reset products are convertible at any payment date, product conversion change cost is 100 basis points ($500 minimum).
  • Reset products will automatically reset for another period equal to the original period if not converted at no charge.
  • Semi-Annual (S/A) payments begin on any month with second payment due 6 months later.
  • Prepayment: interest is due to date of payoff.
  • POP prepayment penalty is 5% of principal amount prepaid during first year, 4% of prepayment principal amount paid during second year, etc.  After year 5 open prepayment without penalty on any date.
  • POP prepayment products are NOT available in states that prohibit prepayment penalties. 
  • Monthly and Annual payment rates are also available, call for pricing.
  • These are NOT Farmer Mac products, for Farmer Mac & other Secondary market products see below.
  • For ALL products if the Amortization is greater than the Term, there will be a balloon payment due at maturity (may be qualified to refinance).
  • Integrated Poultry products are indicated underlined in green type

AFM Secondary Market Products with 30-day Rate Lock pricing

 As of: 08/25/08  

Blue text indicates current recommended products

Product Payment Options Prepayment Options Term Amortization

Standard Rate

Platinum Rate
1 Year  ARM - FM Mo, S/A Open - pmt date 15 years 15 or 25 years 5.70% 5.50%
3 Year ARM - FM Mo, SA Open - pmt date 15 years 15 or 25 years 6.60% 6.40%
5 Year ARM - FM Mo, S/A Open - pmt date 15 years 15 or 25 years 6.99% 6.79%
7/1 ARM - FM Mo, S/A Open - pmt date 15 years 15 or 25 years 7.34% 7.14%
10/1 ARM - FM Mo, S/A Open - pmt date 15 years 15 or 25 years 7.47% 7.27%
10 Year VRM - FM Mo, S/A Open - pmt date 15 or 20 years 15/20 years 7.57% 7.37%
10 Year VRM - FM Mo, S/A Open - pmt date 25 or 30 years 25/30 years 7.71% 7.51%
10-Yr Fixed - FM Mo, S/A Open - pmt date 10 years 10 years 7.31% 7.11%
15-Yr Fixed - FM Mo, S/A Open - pmt date 15 years 15 years 7.68% 7.48%
15/25 15Yr Fixed FM Mo, S/A Open - pmt date 15 years 25 years 7.89% 7.69%
20-Yr Fixed - FM Mo, S/A Open - pmt date 20 years 20 years 8.07% 7.87%
** 5 Year VRM FM Mo, S/A Yield Maintenance 10/15/20/25 years 10/15/20/25 years 6.89% 6.49%
15 Year Fixed - FM Mo, S/A Yield Maintenance 15 years 15 years 7.06% 6.86%
15/25 15Yr Fixed FM Mo, S/A Yield Maintenance 15 years 25 years 7.18% 6.98%

Secondary Market product notes:

Fast Track (Farmer Mac) applications from $500,000 - $750,000 in size, with 55% Maximum Loan to Value and credit score of 700 or better, net worth on pro forma Financial Statement must exceed total debt by 10%.  Standard Farmer Mac applications from $500,000 - $1,250,000 with full documentation underwriting.  The above rates are for typical size and risk loans. 

Integrated Poultry products are indicated underlined in green type; if construction funding is required additional restrictions and/or disclosures regarding the application process and/or the funding mechanism/restrictions are available.

** 5 Year VRM, currently this product is only available for integrated poultry.

All Platinum products require a minimum loan size of $750,000 and other underwriting requirements. 

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, mid score of 680 required.     Semi-Annual (S/A) payments are due Jan 01, and July 01.  Open prepayment on any payment date for ARM products, payment of interest to next payment date is required.