Part-Time Farm

Features & Benefits

Regardless of size or style of operation, we have the financial tools you need to keep your part-time farm growing. As a leader in hobby farm lending, we understand the specialized nature of part-time farming and will work with you to meet your unique needs. Our loan options can be used to purchase the following: 

  • Pole barns
  • Livestock structures
  • Building improvements
  • Land
  • Fencing
  • Livestock
  • Utility vehicles or small tractors
  • Equipment

Patronage Program

A portion of our annual earnings are returned to our eligible member-owners in the form of patronage.

FAQs

  • What are my down payment options?

    Typically, mortgages require a 20 percent loan to value down payment. We have options for borrowers looking to secure their down payment, including:

    • Providing 20 percent cash down
    • Using Private Mortgage Insurance if less than 20 percent
    • Other property or forms of collateral to meet some or all of the down payment requirement.
  • How do I reamoritize my loan?

    Loan reamoritization can be done quickly without the need to refinance throughout the life of the loan as equity is accumulated. A visit with a local financial services officer can get the process started.

  • Can I finance vacant land for up to 30 years?
    Yes, we are one of the few lenders who will write mortgages on vacant land without the stipulation to build with in a certain timeframe. Many of our customers use our vacant land mortgages to purchase hunting land or recreational land.
  • What is PMI?
    Private Mortgage Insurance (PMI) is a tool borrowers can use to offset the 20 percent down requirement. PMI will add a monthly premium cost to your payment. The insurance can be obtained through GreenStone will applying for a mortgage.
  • Is GreenStone a sub-prime lender?
    Private Mortgage Insurance (PMI) is a tool borrowers can use to offset the 20 percent down requirement. PMI will add a monthly premium cost to your payment. The insurance can be obtained through GreenStone will applying for a mortgage.
  • What are the criteria for full and part-time farm designations?
    To be considered for agricultural loans, full-time farmers must generate a minimum of $100,000 gross farm income annually. Part-time farmers are those with the ability to generate a minimum of $500 gross farm income annually. 
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Notice: Branches are Closed, Business is Open!

As we monitor the development of COVID-19, we continue to take precautions. Starting Monday, March 23, 2020, we will be ‘open’ for business, but our office buildings will be closed. Our team members are working remotely and remain available through an array of technology and tools to serve your needs. We encourage you to embrace alternative options to do business with GreenStone. Find all COVID-19 updates by clicking here.