Are you buying a hobby farm? Are you looking for land for gardening and growing your own food? Do you want to start raising chickens? Do you want to buy and raise goats? Are you looking for enough land that will let you set up a deer stand and hunt?
Some people look for a ten acres, forty acres, or even larger parcels of land for running a hobby farm. Whether you're dreaming of a hobby farm for retirement or for a vacation property, Northview Bank is here to help.
Loans for Hobby Farms
Hobby Farms Acreage Limits
There are no acreage limits for Hobby Farms. A hobby farm is nothing more than land with a varying number of structures on it. Northview Bank has been financing land purchases of all sizes since our doors opened more than a hundred years ago. Many banks want you to carve out a home on ten acres for financing, but Northview Bank does not have that stipulation. Instead, we assess the value of the land and buildings, along with the credit, debt structure, and income of the borrower. From there, we make a determination on the hobby farm loan that will be best for the purchaser. Sometimes this means a long-term fixed-rate secondary market mortgage. Other times, a shorter term in-house loan product is ideal. In any case, buyers are not bound by land restrictions or impossible stipulations to make a hobby farm possible.
Property for Hobby Farms
The hobby farm loan that Northview Bank provides will vary mainly based upon the property you’re purchasing. Larger farms may resemble the loan that an income-producing farm would use. Further documentation and proof of use would need to be produced in this context. Ultimately the loan professionals at Northview Bank will walk you through each step of the process, helping you find the best hobby farm financing product for your needs.
Hobby Farm Location
Hobby farms of various sizes and purposes exist across all of Minnesota and Wisconsin. Northview Bank’s lending solutions are available whether you are looking in the beautiful bluff country of Fillmore County, MN, the lake country of Hayward, WI, or the Red River Valley.
At Northview Bank, we are ready to assist you with your hobby farm dream.
Northview Bank is here to help you with your dream of hobby farm ownership. To see if you qualify for a hobby farm mortgage, talk to one of our lending experts.