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Agricultural Mortgages
These loans are granted when the request is related to farm
activities. Usually, farmland is used to secure these types
of loans. Mortgages against farmland will not exceed 75% of
the purchase price, or the assessment, whichever is the lesser
of.
The benefit to the member is to use an asset over a longer
amortization period, which is usually 20 years, with a maximum
of 25 years, and a lower interest rate. Variable and fixed
rates are also available.
Examples: to purchase farmland, construction of buildings
on farmland, or to consolidate outstanding bills.
For further details, members can contact the lending department.
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