Loan Products - Group II

Principal Amount:

The loan may be in a principal amount of no less than $100,000 with no maximum.  

Underwriting Guidelines:

• The loan-to-value ratio may not exceed 65%, and it may be lower for larger loans.
• Minimum debt coverage of 1:1 from the loan collateral is preferred, but not required.
• 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.
• Acceptable credit history

Features Available:

• 30 and 90-day LIBOR-indexed loans, and 1 and 6-month Adjustable Rate loans (all open prepay)
• 1, 3 and 5-year Adjustable Rate loans  
• 3/1, 5/1, 7/1 and 10/1 Reset loans
• 10, 15, 20 and 25-year Fixed Rate loans
• 25-year maximum amortization

Adjustable Rate and Fixed Rate loans available with open prepay or prepayment penalty options.

Quoted rates are based on semi-annual payments and the prepayment option selected.