No Fixed Amount
Type of Program:
The Fixed Farm Mortgage is a fixed rate interest loan for Nova Scotia farmers which can be used for purchasing an operational farm or additional farm land, for construction of farm buildings for livestock housing or other construction projects such as: greenhouse facilities, milking parlors, silos, manure systems, land clearing, or drainage.
Comments on Funding:
The applicant will pay a fixed rate interest and other fees, if applicable.
Repayment can be amortized over any period from 1-30 years and the repayment schedule can also be tailored to fit the cash flow of a farm.
The Farm Mortgage is typically secured by real property, livestock, quota, equipment and applicable guarantees.
Creditors Life Insurance is available for the full amount of the loan.
When It Ends:
Applicant must be:
Applicants must complete the application form on their own, or call for a loan officer to assist or review it with them.
Applications are processed on the basis of a security appraisal, an assessment of the farming program and a review of the completed application form.
Applications are processed on the basis of a security appraisal, an assessment of the farming program and a review of the completed application form