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Loan for hunting land

okccj said:
A $2000/month payment for, in my case, a hunting only property, just doesn't make sense. For that kind of money you could go on an annual elk/moose hunt and still secure a very nice lease for less money.
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He dont hunt much. He has 80 cow dairy and 150 momma beef cows

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Blinginpse said:
He dont hunt much. He has 80 cow dairy and 150 momma beef cows

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I don't know much about cattle ranching, but I assume that brings in a pretty good amount of money.
 
sureshotscott said:
I see these guys often have a booth at outdoors shows saying how they can help finance property purchases. This is not an endorsement, just FYI.

Farm Financing

GreenStone Farm Credit Services offers land loans, construction loans, farm financing, leases for real estate, operating and farm equipment. GreenStone also offers numerous financial services to the agricultural industry, including: agricultural loans, agricultural mortgage rates and agriculture...
www.greenstonefcs.com www.greenstonefcs.com
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Thanks for sharing.
 
My folks live in Atoka county. They used a local bank when they purchased some of their early parcels. Property taxes in that part of the state are no deterrent at all. They're laughably low honestly.
 
All of the local banks that I contacted in my area required a 25% down payment to finance raw/recreational land. Interest rates were all the same or very near mortgage rates at the time. I believe loan terms were up to 20 years at most places also. There is a local farm credit branch that would finance with 20% down, the interest rate was slightly higher then the bank I chose plus I would have had to prove some type of income/loss from farming to qualify.

My advice is to start calling around. Interest rates are still low so you might be surprised what you find.

Edit: in hindsight and after double checking the interest rate I am paying, I believe raw land rates were about 1-2% higher than mortgage rates at the time.
 
$2000 a month for land?... I wouldn't own my own land lol I pay a quarter of that for my little 65 acres. And on my own property I can claim "my spot" to hang from a tree and no one else can.
 
okccj said:
Hi, what's my best avenue to get a loan to purchase a hunting/recreational property? I have no experience related to this.
Thanks in advance.
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Feel free to send me a PM. I do land and acreage real estate for a living. There are institutions that will do 10% down with a 25 year term.
 
We bought a farm in Southeast Iowa in 2010. We went through a local bank in Iowa. The guy we bought it from connected us with the local bank.

It's paid for and we live here now. Best thing we have ever done.
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Blinginpse said:
Buddy bought 122acres and a house to add to his 475 acres 3 years ago. From local small bank 500k. He had 174k down payment. Still 2200$ a month payment. Public land sounds cheaper dont it. If your buying sub a square mile to plant food plots and "manage " save ya money time and headache amd hunt public or knock on doors. Property taxes aint worth it either

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GEEEEEEEZZZZZ!!!!! His yearly income must be insane!


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