Loan Products - Group I

Principal Amount:

The loan may be in a principal amount of no less than $500,000 with no maximum.  

Underwriting Standards:

• The loan-to-value ratio may not exceed 60%.
• Minimum debt coverage of 1:1 is required from the loan collateral.
• Pro forma minimum liquidity ratio of 1.25:1
• Pro forma and historical total debt coverage equal to or greater than 1:25.  This includes net income from both farm and non-farm sources.
• Pro forma debt-to-asset ratio of 50% or less.
• Minimal facility value on the property securing the loan.
• Acceptable credit history.

Features:

• 5, 7, 10, 15 and 20-year fixed rate loans fully amortizing or with a balloon payment due at the end of the term.
• 25-year maximum amortization
• 90 day LIBOR-indexed and 1 and 3-year ARM loans (all open prepay) and 5, 7, 10, and 15-year Reset loans (both open prepay and with prepayment options) also available. 
• 25-year maximum amortization

Quoted rates are based on a $500,000 loan amount, semi-annual payments, and the prepayment option selected.