Most times when a borrower is a farmer, they have gone through all avenues to obtain financing on their farm.
If you have not tried Farm Credit Canada yet, please do.
Farm Credit Canada is a company that specializes in business and financial services, and products for farming operations, including family farms, and to those businesses in rural Canada.
Ultimately, this includes small and medium-sized businesses related to farming.
Mortgage Suite’s Borrower Types list doesn’t usually include farm financing type.
These type of properties fall outside our lending scope and are generally approved with specific lenders. Glengarry Farm Finance is a very good company that offers farm financing. It should be noted, they are a private farm lender, ultimately giving competitive rates to farmers. Farms are within their appetite for lending.
If F.C.C. has declined your application…
We will need to look at Private Farm Financing. Rates can range quite a bit higher than what F.C.C. can offer, but we would approve you with an Exit Strategy to go back to farm lending. Similar Private Lending Closing Costs can be seen with a farm mortgage.
