![]() ![]() As mentioned, the general rule of thumb is that refinancing is a good idea if you can reduce your current interest rate by 1% but can vary based on your individual scenario. Refinancing to secure a lower interest rate can lead to a lower monthly payment and interest paid over the life of the loan.If you came to me wanting to refinance, my first question to you would be: “What is your goal with refinancing?” Let’s talk about a few of those goals: While many borrowers focus solely on interest rate it is important to establish your goals to make sure the loan product meets your individual needs. While many landowners may be interested in refinancing due to low interest rates, the decision to refinance or not should be based on your personal financial circumstances not just this week’s rates. The informal rule-of-thumb is that if you can get at least a 1% interest rate reduction then it’s probably worth your while – but there are fees associated with all refinances to take into consideration. But what are the drawbacks? I’m here to help you better understand the land loan refinance process and give you some things to consider. Local, personalized customer service means you'll always have someone to call with questions.Refinancing a land loan can benefit you by saving you money or easing your current financial obligations. We share your passion for living in the country. Build Now or In The Futureīuy the land today and start construction when the time is right for you. Long-Term Interest RatesĪffordable rates and flexible terms, customized to your needs. Big or small, we see value in open acreage. The Horizon Advantage Rural Property is Our Specialtyįinancing for land, country homes with acreage, timberland and more. In order to keep land productive for the long-term, proper forest sustainability is key. We provide services such as appraisals and timber cruising, as well as other expertise on successful forest management. Not only do we finance timber and forest land, but we have on-staff professionals that specialize in the forest products industry. We recognize the specific needs of properties with timberland and know the added value that it brings to you. You might have timber and forest land on your property. Some benefits of our bare land program are terms up to 15 years (depending on credit factors and down payment amount) and NO prepayment penalties. Horizon knows rural financing and covers many types of land loan packages. Whether it is a simple 10-acre future building site for your dream home, a 50-acre woodlot or 300 acres of cropland, we are here to work with you on financing your purchase. Looking for a lender who will finance land with no buildings? Search no further. If you've found a tract that seems perfect to develop into a thriving small farm, or if you've fallen in love with a charming lot that's just right for building your dream home - even if you might not intend to build until years from now - save yourself time and hassle by calling Horizon first. Whether for residential, business or recreational use, lending for larger, rural tracts is a specialized financial business that requires in-depth expertise. ![]() Need room to spread out? Whether you’re looking for land to build a country home or expanding your existing acreage, we can help you finance open acreage with a land loan. ![]()
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