Do you dream of wide-open spaces, away from the hustle and bustle of the busy city? Do you envision looking up and seeing the stars at night? Are you ready for a slower-paced life on your own land, living the country life you’ve always imagined? There are plenty of great reasons to move out to the country, but here are five more that might just convince you to take the next step and embrace the rural way of life!
1. Land values continue to rise
You’ve probably heard the saying “They’re not making any more land” when referring to the increasing value of land prices, and there is a lot of truth to it. Land prices have continued to steadily increase. In some areas land prices have doubled in the last five years. As more and more people embrace rural living and are moving out to the country, the upward trend for land values is likely to continue.
Think of your new rural home or property as an investment in your future. Mid to large size parcels ranging from 10-50 acres have continued to rise in popularity due to people seeking to live more independent and self-sufficient lifestyles. The demand for more space and a more flexible way of living isn’t going away. While that saying may seem like a cliché, there is something to be said about owning something that truly is a limited resource!
2. Lower cost of living
Rural living has more benefits than just being out in the country. The cost of living is often lower in less populated areas. Property taxes, land costs, and many living expenses are often lower in the country.
Living outside of city limits also allows you the opportunity to use alternative heating and cooling methods. For example, you could choose to heat your home with a wood stove and harvest firewood from your own property.
If you live in town, municipalities control the cost of utilities, such as water. Living in the country allows you more control over these costs. While the upfront cost of installing a well and septic system for your home can be a larger investment, there are no ongoing monthly costs, likely saving you more money on utilities in the long run.
3. Opportunities for alternative sources of income
Living on your own property provides the opportunity to use your land as a source of income through, for example, part-time farming. Not only does having your own land present you with an opportunity to become more self-sufficient and feed your own family, but it also can help provide income for your family too.
If you’re dreaming of starting your own vegetable garden, consider getting a chicken coop so you can have your own eggs, or planting a cut flower garden. Roadside farm stands are a popular way to turn one of your hobbies into an alternative source of income that wouldn’t be possible in a town or city context.
4. More access to nature and recreational hobbies
One of the biggest reasons people plant roots in the country is to experience a slower pace of life. That doesn’t mean there aren’t plenty of exciting aspects of country living! Living in the country can mean easy access to the great outdoors and a number of recreational hobbies such as hiking, kayaking, fishing, hunting, biking, camping, and just spending plenty of time outdoors.
Stop to watch the sunset and get a clear view of the stars away from the lights of the city. Take advantage of the natural beauty and wildlife that surrounds you. If you value more space, more privacy, and more access to nature, then rural living could be ideal for you.
5. Close-knit communities
There’s nothing like getting to know your next-door neighbor, even if they live a mile down a dirt road! Living in the country, or a small town or village, has many benefits including generally closer-knit communities, and of course that homey small-town feel. Many families also choose to move to rural areas because of smaller school districts and classroom sizes for more opportunities for hands-on learning.
Moving to the country can also give you a newfound appreciation for the farming and agriculture around you as you watch the seasons change with your local farmers from planting time all the way into harvest season.
There are endless reasons to move out to the country and embrace a more rural lifestyle. No matter what reason you have for making the move, you are bound to experience even more benefits than you would have thought the longer you find yourself living in the country!
Contact your local GreenStone branch to learn more about rural home and vacant land financing options.
Vacant land, home site and recreational property loans have become especially popular over the last few years as families look for ways to get out and enjoy nature.
Summer is here. As you’re spending more time outdoors, you might be considering if now is the time to invest in a property to begin making memories on. Whether you’re interested in building your dream home on vacant land or owning recreational property, GreenStone can help you finance property that fits your budget and supports your plans for the future.
Which land loan is the best fit for me?
There are many things to consider when deciding what kind of land loan will fit your needs best. It’s important to understand the characteristics of each loan, beginning with the type of property being financed and your long-term goals.
What’s a recreational land loan?
Recreational land with GreenStone is defined as more than five acres being used primarily for recreational purposes. A recreational land loan typically requires a 20% down payment, but in some cases it could be as low as 15%. GreenStone offers 30-year amortization terms for affordable payments. This land is usually used for hunting, fishing, hiking or ATV-riding, with no immediate plans for building at the time of purchase. If you have interest in building a home, pole barn or outbuilding later, GreenStone can provide do-it-yourself or contracted construction loans to fit your needs.
How does a vacant land loan work?
Similar to recreational land, vacant land is often property that is greater than five acres. What’s the difference? This property is purchased with the intention of building a structure on it. The terms of vacant land loans are like recreational land loans as a typical down payment is 20%, with some cases allowing a 15% down payment.
What defines a home site loan?
A home site property financed with GreenStone is commonly land that is less than 5 acres and does not have any structures on it. These loans are typically used by customers who plan to build a home or cabin on the land. Financing options vary for each individual and property type. However, the requirement is usually 20% down, with certain instances allowing you to put down as little as 15% down with a 30-year term.
Recreational Land FAQs
What are my down payment options?
As mentioned above, recreational vacant land mortgages typically require a 15-20% loan to value down payment. GreenStone has options for borrowers looking to secure their down payment, including:
- Providing 20% cash down.
- Other property or forms of collateral to meet some or all the down payment requirements.
How do I reamortize my loan?
Loan reamortization, referred to as an interest rate loan conversion, can be done quickly without the need to refinance throughout the life of the loan as equity is accumulated. A visit with a local GreenStone financial services officer can get the process started.
Can I finance vacant land for up to 30 years?
Yes, GreenStone is one of the few lenders who will write mortgages on land without the stipulation to build within a certain timeframe. Many of our customers use our land mortgages to purchase hunting land or recreational land.
Many people are taking advantage of GreenStone’s flexible financing to purchase property not just for today, but for a place they will keep in their family for generations to come. To learn more about home site loans, recreational land loans, country home mortgage loans and finding the best loan for your needs, visit a GreenStone branch near you.
The United States dairy industry is both bullish and bearish for producers, with many factors potentially influencing the future.
While export demand and record-high processing investment offers momentum, policy uncertainty – spanning labor, trade and nutrition assistance – combined with soft domestic demand has created downward pressure.
Milk prices are seemingly carrying over from last year with strong milk prices in the first quarter. Growers are also experiencing lower feed costs. However, tariff discussions recently caused some volatility in the futures markets, especially for Class III (cheese) prices.
“There’s always volatility in our industry, but cheese prices have rebounded and are currently profitable, with futures indicating sustained profitability for the next 6-12 months,” says Mitchell Schafer, vice president of agribusiness lending at GreenStone Farm Credit Services. “It’s no longer just, ‘what’s my local milk price?’” he says. “Some of the rebound in milk prices came from the export market, where the U.S. has competitive prices in the global cheese market. Retaliatory tariffs remain a concern.”
The U.S. dairy market is heavily influenced by international competitiveness, with approximately 16% of milk solids currently being exported, according to Leonard Polzin, Dairy Markets and Policy Outreach Specialist at the University of Wisconsin-Madison Extension.
High dairy market prices have been historically influenced by either reduced production or increased exports. As the industry looks towards the future, maintaining competitive pricing on the world stage will be crucial for sustaining strong margins, Polzin says. The U.S. exports nearly one-fifth of dairy components, primarily nonfat solids, with Mexico, Canada and China collectively accounting for about 40% of the total value of U.S. dairy exports in 2024, according to Polzin.
Investment in Processing Infrastructure
Capital costs and interest rates are higher than they were four years ago, posing challenges for growth, according to Schafer. However, there is expansion, as the U.S. dairy industry is experiencing substantial investment in processing infrastructure, exceeding $8 billion nationwide, with some estimates approaching $9 billion. Notable projects include:
- Walmart’s $350 million facility in Robinson, Texas, expected to be operational by 2026
- Fairlife’s $650 million fluid milk plant in New York
- Chobani LLC’s recently announced $1.2 billion dairy processing facility, which broke ground on April 22 in Rome, New York
This surge in milk processing is expected to create a higher demand for milk and could lead to a more stable and profitable market for dairy farmers. The price bump may stretch out depending on how long it takes for farmers to align production.
Much of the new processing investments are concentrated in cheese production. U.S. cheese exports have outperformed expectations due to lower prices relative to the European Union, where tight milk supplies have driven prices higher. This price gap has made U.S. products more competitive, but the advantage is fragile, according to Polzin.
Milk Solids Production Continues to Increase
Despite a 0.35% year-to-date decline in total milk production in 2025, calculated milk solids production increased by 1.65% as of March 2025. This increase in production efficiency coupled with an increase in the national herd of 15,000 head from January to March of 2025 and an increase of 57,000 head year-on-year, means the industry can meet new demand for milk solids more quickly than in the past, according to Polzin.
High oleic soybeans are gaining traction for increasing butterfat and protein content in milk. “It depends on production levels as to the response growers might see,” Schafer says. “There are herds that are running trials, and some are making that switch, but it’s not cheap to put in a roaster, grinder and storage to handle it. Sourcing or growing the beans yourself can also pose challenges. Producers in the 80-pound to 90-pound range may see bumps in the components (butterfat and protein) and production, as well.”
Dairy Replacement Values Remain High
“It can be expensive to buy cows. That goes for calves, heifers and springers,” Schafer notes. “But at the same time, producers are getting pretty good money if they’re selling cull cows, or day-old black calves – at least they’ve gone up together,” he says.
Dairy replacement values are high. In April, USDA reported the average price for a dairy herd replacement ready to enter the milk barn reached $2,870. That’s up from $2,120 the same time last year.
In the final 18 weeks of 2023, dairy farmers sent 140,500 fewer dairy cows to slaughter when compared to the previous year. The big pullback continued throughout 2024, as 367,400 fewer head of dairy cows went to slaughter as dairy farmers looked to shore up herd numbers when faced with fewer heifers, according to Corey Geiger, lead dairy economist at CoBank.
That trend seems to finally be reversing. Through March, the U.S. dairy cow herd was up 80,000 head when compared to the start of 2024. However, that gain, which reached a total of 9.4 million head, has less to do with replacement inventories and more to do with a historic pullback in culling, which started in the fall of 2023.
“Some producers are getting another lactation or two lactations out of their herds,” Schafer says. “Instead of culling they are getting more milk out of them because the price is favorable right now, and because there aren’t as many replacements out there.”
Butterfat Exports Rising in 2025
Butterfat exports were 203% higher than a year ago in March at 17.9 million pounds, according to the U.S. Dairy Export Council. Canada was a major buyer as sales volume grew 172% compared to the same time last year.
“Overall, U.S. butter prices continue to be discounted compared to the two largest global dairy exporters — the E.U. and New Zealand,” Geiger explains.
While March 2024 still holds the record of 110 million pounds of cheese exported in one month, March 2025 secured the number 2 spot at 109 million pounds. Mexico remains the top U.S. dairy customer and purchased 95.5 million pounds of cheese in the first quarter of 2025.
“It was a clean slate, I could do whatever I wanted with the land which was really nice,” Gregory Lewandowski recalled after he bought land from his grandparents in 2018. Just after that land purchase, he was deployed with the National Guard in Afghanistan. He spent much of his free time researching the best methods to farm his land and how he could accomplish his goals from the ground up.
While deployed, Gregory said he found GreenStone when he had to file farm taxes for the first time. “My Dad went into the office on my behalf to present my information and they did all the legwork on my taxes after we just showed up as a stranger on their doorstep. I appreciated that and stuck with them.”
Returning to his farm, Gregory’s research helped him land on direct-to-consumer grass-fed beef. He focuses on using rotational grazing and regenerative pasture management to see the best results in his cattle and soil integrity. He noted, “At its core, regenerative agriculture is simply farming in harmony with nature, not fighting it.” Since developing his operation, he now grazes his cattle over three different properties and 180 acres.
To continue his passion for learning, Gregory enrolled in a six-year rotational course through Northeast Wisconsin Technical College. With GreenStone’s CultivateGrowth grant he was able to reimburse a portion of his course fee. The course topics vary from year to year and cover new ideas from soil management, agronomy, animal nutrition, and farm financials. “As we know with farming, like any industry, it’s consistently changing. So, there are new ideas they present, and you may have never considered them.”
While staying up to date on new methods is educationally great, he noted the best thing the course provided was communication and networking with other farmers. He said he had a great group of classmates and has since worked with multiple people on various projects around his farm. He laughed, “In fact, someone I met in class came and rescued me off the highway when I had a flat and a trailer full of cattle.” Whether on the road or in the classroom, Gregory has built a supportive community to help him reach his goals.
GreenStone is proud to be a part of Gregory’s community. We’ve got him covered from tax preparation to educational opportunities. GreenStone aims to provide opportunities for all young, beginning, and small farmers and support their educational and personal growth efforts with our CultivateGrowth grant. To learn more about GreenStone’s CultivateGrowth grant, click here.
When you’re just getting started as a beginner farmer, it’s easy to feel overwhelmed by the amount of new information you’re learning and keeping track of everything you need to stay organized and successful. Whether you are in line to take over operations of your family’s multi-generational farm or starting your own farm from the ground up, here are some questions to consider ahead of meeting with your lender to help them provide you with the best support possible!
1. Define your business goals
The first step in any business should always be to define your goals. Not only will this help to inform the decisions you are making around your business, but it will also set you up for success when it comes to working with your lender to help them clearly see your vision and strategy for your business. A clear and defined business strategy acts as a roadmap for achieving your goals.
Start by defining your SMART goals – that means specific, measurable, achievable, relevant, and time-bound goals. This framework will help you prioritize which goals are the most important and help you dive deeper into the details of your vision for your farm. Understanding your needs ahead of time is crucial to effectively communicating with your lender and developing a plan that fits your needs the best.
Before engaging with your lender, take the time to thoroughly assess your business strategy and financial goals. Having a clear vision of your lending requirements, including specific purposes and estimated costs, is essential. This preparation will not only streamline your conversation but also position you as a well-informed borrower.
2. Provide as much information up front to your lender as possible
Even if you don’t have every detail of your business plan worked out or your balance sheet filled in, providing as much information as you possibly can will go a long way in helping your lender determine what your needs are. Your local GreenStone team has been helping farmers like you for over a century and would be happy to sit down with you to review how to complete these important financial documents.
Another reason it is important to provide as much information as possible to your lender is to help them match your loan terms to your specific needs. Let’s say you are looking to finance a piece of farm equipment such as a tractor. You will want to opt for a short-term loan request versus a long-term request for something like a land purchase.
If you know you will need financing for farm equipment in addition to a construction loan for adding on to your facilities, it is important to communicate this to your lender as soon as possible. They may be able to package your lending needs together into one loan request. This is yet another reason why it is important to provide as much information to your lender up front as you can!
3. There are resources available to help you!
While it may feel daunting when you are first starting out, there are a multitude of resources available to you as a young, beginning, or small farmer. Many organizations like Farm Bureau and other members of the agricultural industry offer educational and networking opportunities or resources valuable to you. GreenStone’s own CultivateGrowth program offers a mentorship, educational resources, grants, and more to support up and coming farmers whether you are starting your own farm or taking the reins of a multi-generational farm.
Many agricultural lenders also offer more relaxed underwriting standards to help beginning farmers overcome the financial challenges they might face being a new farmer to help them get started.
When you work with an agricultural-based lender, not only are you able to receive financing and support specific to your growing farm, but chances are you’re also getting the expertise of fellow farmers. Many members of our team at GreenStone are involved in running a family farm, have a hobby farm or farm animals, or are involved in supporting a number of agricultural organizations outside of work. At GreenStone, we live the country lifestyle too! Having a lender that knows what you’re experiencing – because we’ve been there too – is paramount to the kind of support you will receive when you are first starting out as a beginning farmer.
If you have any questions on resources for beginning farmers or are ready to take the next step and apply for financing for your farm, reach out to your local GreenStone expert. We are eager to support the next generation of young, beginning, and small farmers.
This article was originally published in Michigan Farm News.
“Were you raised in a barn?” may have been a popular sarcastic comment in the past but today, growing up in a barn is a very desirable option to many people! Barn homes, also known as barndominiums and barndos, continue to gain popularity across the country. Barn homes can offer soaring ceilings with unique wide-open living spaces, speedier exterior construction and other attractive options. Functionally, the potential to combine work and living spaces or storage for recreational vehicles in one building is also appealing to those who live the country lifestyle.
Our rural lending experts have the answers to some of the most frequently asked questions when it comes to building your own barn home!
What are the benefits of building a barn home?
- Barn homes do not require interior load-bearing walls, resulting in their exceptional open floorplan designs and possibility for soaring high ceilings.
- Barn home exteriors or “shells” can often be built more quickly than a traditional home.
- Barn homes are sturdy and long-lasting; their steel exteriors can last up to 40 years hassle-free, unlike traditional homes that require regular maintenance
- Superior insulation options available for barn homes can result in higher energy-efficiency and reduced utility costs
- Depending on the design and materials used, barn homes can be more affordable than traditional stick-built homes.
Is a barn home always less expensive to build than a traditional stick-built home?
The cost of constructing a barn home depends on many factors. Like traditional homes, barn homes can range from small and simple rectangular designs, to huge, extravagant living quarters with complex rooflines, custom windows and spacious porches. The quality of materials used for flooring, walls, cabinets, windows, roofing, ceiling and lighting can all affect the final cost. In general, a barn home can be less expensive than a traditional home per square foot, but the cost depends on materials used, customization, amount of labor required and size of the home.
Does GreenStone finance barn home construction?
GreenStone offers financing options for the purchase or construction of barn homes of at least 1,000 square feet and that include at least two bedrooms. Financing options are available for up to 30 years for both the home and the home site.
How much is the down payment for a barn home?
At GreenStone, a standard down payment on a barn home is 20%. Some traditional home loans do qualify for PMI (Private Mortgage Insurance), which can be used to decrease the down payment to only 5%. If a customer is interested in a lesser down payment through PMI financing and they want to construct a barn home, they should consult with their financial services officer to ensure the scope of the property or project is in compliance with GreenStone and Enacts (PMI company) underwriting guidelines. The impact the appraisal may have on the cash needed for the complete down payment should also be considered.
A home’s expected appraisal value after construction, called “as will be” appraisal, is partially based on the value of comparable homes in the area. Because barn homes are still relatively new and less common, and few have been resold to date in most areas, it may be difficult for the appraiser to find comparable homes on which to base an accurate appraisal value. This may result in a conservative appraisal value below the actual cost to build the home. That difference will need to be paid in cash on top of the standard down payment.
How are barn homes taxed?
Barn home valuation may consider only the living areas of the building or could include the entire property, depending on the regulations in your city, township or county. It is a good idea to research barn home tax costs before construction begins to understand the long-term property tax requirements. You should always consult with your municipal tax assessor to best understand how taxes will be assessed for your future property.
What size and type of barn home can I build on my land?
Your county or township’s zoning regulations will inform what size and style your structure can be. If you intend to build a combined-usage barn home, a barn including both living quarters and a horse stable or living quarters and a public retail or service space, check with your local zoning authorities to confirm if combined usage is allowed. Variances on existing zoning are possible, but exceptions can be difficult and expensive to achieve.
What else should I think about when considering a barn home?
The native core structure of a barn home is different than a traditional home, resulting in some limitations to what one might normally expect with a home. Most barn homes are built on a cement slab foundation, not a basement, due to the post-frame construction style. Typically, if you desire to add drywall, extra framing is needed between the posts, which are usually placed eight feet apart rather than 18-24 inches for traditional homes; this can be an added expense. Insulation costs can be higher, as pole barn walls are thicker than typical stick-built homes (as a benefit, however, this can also result in lower heating and cooling costs). You may also need to add a vapor barrier to keep out moisture. Some builders consider this an upgrade.
Building a barn home can be an exciting and rewarding experience, resulting in a unique and enjoyable dwelling when the work is finished. Carefully researching and asking the right questions before construction begins can help ensure a positive outcome.
To learn more about building a barn home and GreenStone’s home construction loans, contact your local branch.
Michigan and Wisconsin cherry and peach growers, like many other fruit growers, are facing challenges with rising input costs due to inflation and low market prices, especially for tart cherries. Volatile weather, including excessive precipitation and warm spells, can lead to disease and pest issues. To combat these challenges, growers are making management and marketing changes to adapt, including diversification and vertical integration.
“There is a lot of uncertainty right now as far as the global economy,” says Devon Rosebrugh, financial services officer at GreenStone Farm Credit Services . “We import a large amount of tart cherries from Turkey, which is known to export cherry juice and products at prices lower than American production costs. So, it will be interesting to see if those imports go down with tariffs, potentially creating a larger demand for domestic fruit.”
While the tariffs may help with fruit prices, growers face a higher cost on fertilizer inputs, including potash from Canada.
David Ortega, professor of agricultural economics at Michigan State University (MSU), warns: “Uncertainty linked to tariff policies makes it extremely difficult for farmers to plan investments and strategies.”
Volatile weather patterns in recent years have also caused havoc. “A lot of precipitation in the spring can cause disease and pest issues, and warm spells in the winter can cause crop damage,” says Rosebrugh.
Milder temperatures in southern Michigan this year elevated the risk for leaf curl infections in peaches. “We’ve had the most normal winter weather we’ve had in a lot of years,” Rosebrugh says. “So that’s kind of promising except for one little warm spell we encountered.”
Wisconsin is not a major producer of peaches and therefore it is not reported by USDA. However, USDA predicted Michigan’s peach harvest at 7,500 tons for 2024, down from 11,250 tons in 2023.
2025 growing season off to a promising start
Michigan and Wisconsin have quickly moved into bloom for all tree fruits. The states are experiencing a more normal bloom season compared to 2024, when the season was advanced.
“Although it has seemed cooler than normal in the northwest region of Michigan, our growing degree day accumulations are similar to our 35-year averages, which makes the 2025 spring more normal,” says Nikki Rothwell, MSU Extension Specialist and Northwest Michigan Horticulture Research Center Coordinator.
The northwest region had stormy weather overnight April 28-29. “We had high winds, lightning and thunder, and there were trees down throughout the region,” Rothwell says.
Michigan growers remain optimistic despite last year’s devastating sweet cherry failure. With a 75% loss in some areas, the failure prompted the United States Department of Agriculture (USDA) to issue a disaster declaration for the Michigan cherry industry.
Michigan produces 75% of the nation’s tart cherry crop. However, weather, pests and rising labor costs are among the many challenges that could impact pricing in the future.
“Historically, we’ve been seeing a grower price of 15 to 20 cents per pound for tart cherries,” Rosebrugh says. “MSU research shows that it costs anywhere between 40 and 45 cents per pound to produce it.”
Many predict there will be a rightsizing of the industry over the next few years.
According to Horizon Grand View Research, the cherry market in North America is expected to reach a projected revenue of $31.6 million by 2030 with a compound annual growth rate of 7% from 2025 to 2030.
A Michigan Department of Agriculture and Rural Development (MDARD) report shows international demand was a big source of revenue for Michigan’s cherry industry last year, with agriculture exports increasing 11% to $2.9 billion since 2023.
Fruit producers diversify their markets
Many financially strained fruit growers are becoming more diversified with agritourism activities and u-pick operations. Some have vertically integrated, controlling more than just the growing segment by adding processing and packing lines. Others are pulling out trees as pressure to sell for development continues to grow.
“Diversification, with farm stands and farm markets, is getting pretty popular,” Rosebrugh says. “Some type of agritourism or vertical integration is helping growers mitigate costs.”
With the creation of the Michigan Cherry Grower Alliance, growers hope to work more closely together to combat challenges. With support from the Alliance, the Cherry Marketing Institute and the Cherry Industry Administrative Board named a new president, Amy Cohn, and hired a new marketing firm, Curious Plot, which will focus on identifying new markets and customers to sell more cherries.
In addition, “MDARD has approved a grant to fund a portion of a fulfillment and distribution center for Cherry Republic, which is a large buyer of tart cherries,” Rosebrugh says. “They’re estimating their purchases will go up by one million pounds, which is a decent amount of the market share here.”
The sweet cherry harvest is expected to begin in late June and early July. According to Traverse Bay Farms, its timing and yield will be influenced by the weather and pest/disease pressures during the growing season.
The tart cherry harvest typically begins in late June or early July, with the peak harvest in July.
When you’re first getting started on your journey to building your dream home, the home construction process may seem overwhelming and out of reach at first. With so many steps and decisions to make along the way, surely the paperwork required throughout the process may seem like it could be never ending, right? Not with GreenStone Farm Credit Services!
Whether you are building your home yourself or contracting it out, here are the four main documents your GreenStone team will need at the start of your home construction process to keep your project running efficiently and on time.
Accurate Blueprints
After you’ve spoken to your loan officer and have been pre-qualified for your desired loan, you’ll then be ready to formally apply for your construction loan. The first item you will need to provide your lender with is the blueprints for your project. Whether you’re building a modular home, site/stick built, barndominium or log cabin, every project starts with the blueprints. Blueprints are what your lender and their appraiser will look at to appraise the value of your home, which determines the amount available for your construction loan.
Blueprints are also one item throughout the construction process that shouldn’t see many major changes. While you do have the ability to change your mind on things like the color of the backsplash in your kitchen, there is less wiggle room when it comes to changes such as the number of bedrooms and bathrooms.
These more serious changes could have a material effect on the appraised value of the home. Blueprints must also be approved by your local municipality to receive the permits needed to build. Keep in mind, there may be restrictions or requirements from your local building department regarding the size, style and finishes allowable in your area as well.
Dwelling Specifications
The second document you will need to provide to your lender are the dwelling specifications. This document itemizes the types of materials you will be using in your home and includes items such as flooring, cabinets, countertops, windows, insulation, siding and roofing, which are not readily apparent in your blueprints.
Dwelling specifications are important because they not only help the appraiser value your home but also remind you of the details around the pricing you need to determine for your budget. For example, if you have your heart set on custom marble countertops for your kitchen and you want to splurge on the material used for that part of your home, you may need to reduce your costs elsewhere to make up the difference in the extra cost for that specialty item.
Minor changes can, and likely will, come about during your build. As long as they are within reason and do not jeopardize the initial appraisal value that was determined for your loan, you can make adjustments to the materials you would like to use in your home.
Up-to-Date Sworn Statement
Once you have your blueprints finalized and the different finish of materials chosen for your home, it’s time to complete your sworn statement form. The sworn statement is an important document that monitors your budget, keeps track of all payments made to your suppliers and subcontractors and accurately tracks any changes in pricing during the building process.
Before and during your project, the sworn statement will keep you organized regarding what payments have been made to which contractor and supplier and will help your lender determine if you are staying on budget for your project.
Learn more about completing your sworn statement form by watching this easy-to-follow tutorial!
Signed Builder Contract
If you are working with a general contractor to manage your build, you will need to provide a signed builder contract to your lender. This document will outline the builder’s preferred draw process for payments, provide an outline for project management, establish the construction timeline, and provide clear guidance for the roles and responsibilities of each party.
Builder contracts are important to obtain because they provide information on the process of your home’s construction as well as to ensure all legal requirements are met such as the permitting, licenses and insurance coverages required.
The more information you can provide to your lender up front, the smoother the process will be! Any additional information obtained throughout the construction project should always be provided to your lender so they can stay informed and provide the best support possible throughout the construction of your new home.
If you have questions regarding what the home construction process entails or would like to learn more about the DIY home construction loans GreenStone offers, please don’t hesitate to reach out to your local branch!
Why should I consider livestock insurance?
Livestock and dairy insurance are an important part of your farm’s risk-management strategy. They can protect against financial loss due to changes in market prices for your livestock, milk, or a decrease in your profit margin. You may be wondering if you need livestock insurance, or what livestock insurance will cover. With rapidly fluctuating and uncertain markets, it’s more important now than ever for farmers to consider livestock insurance as a part of their risk management strategy to protect their livestock, farm, and livelihood.
The right kind of livestock insurance policy can protect your farm from unforeseen circumstances that could be detrimental to your operations. Whether you are a dairy, swine, or beef producer looking to ensure the price at which your milk or livestock is sold, there is a policy to help you reduce your risks. Livestock insurance is important for farmers who want to be protected from as many unpredictable events as possible. As you are aware, one of the only things you control in farming is the effort you put forth every day. Most other aspects, including the market, is out of your control, which is why it’s important to have a comprehensive risk-management strategy for your operation.
“Livestock and dairy insurance provide producers with peace of mind the price of their livestock or milk will be insured for market value at the time of purchasing coverage,” says GreenStone Farm Credit Services Senior VP of Crop Insurance Ben Malich. “This is a valuable tool for mitigating risk to your farm operations and provides financial protection during a time of market uncertainty.”
What are the different types of livestock insurance?
When determining the kind of coverage best for you, the first step is determining what your risk-management needs are and what kind of protection would benefit you most. Livestock and dairy insurance largely fall into these three categories:
Livestock Risk Protection: LRP protects against a decline in livestock market prices for beef and swine.
Livestock Gross Margin: LGM protects against the gross margin as determined by the market value of the livestock minus feed costs to mitigate the challenges of raising both beef and swine to market weight. Dairy can also be insured by LGM.
Dairy Revenue Protection: DRP protects against the difference between the final revenue guarantee and actual milk revenue if prices fall.
Where do I begin with livestock insurance coverage?
When it comes to determining what level of coverage you will need, it helps to have an expert on your side. Working with an insurance provider who understands the ins and outs of your specific industry as well as current market prices and trends is imperative to determining the livestock insurance policy most beneficial for your farm. GreenStone’s team of dedicated livestock insurance specialists focus solely on working with farmers to help them determine which risk management option is best for them.
When you work with GreenStone, you also gain access to Farm Credit’s exclusive Livestock Insurance Analyzer tool. This tool allows producers to view quotes, request coverage, track endorsements, and stay informed through access to the latest market updates. All this and more can be done right in the palm of your hand through a mobile app!
If you are considering livestock insurance as a part of your farm’s risk-management strategy, the first step is to contact your GreenStone crop insurance or livestock insurance agent. If you are interested in learning more about the options available to you, GreenStone’s team of livestock insurance specialists would be more than happy to answer any questions you might have.
After having someone come out and spray their crops for a few years, Karisa’s realization hit her. She was fully capable of spraying crops, and why not make a profit if the opportunity was there!
Karisa Bailey has been helping on her partner’s farm for over two decades – from the fruit trees, to cider, and deliveries – she was a part of it all. Now, she’s taking steps to become more involved and assist other operations in the process!
She said they had found the idea of using a drone to spray crops a few years ago and had contacted someone local to try it out on their operation. “I was just in awe watching; I knew I could do that,” Karisa exclaimed.
There are quite a few steps between getting a drone for spraying and being operable. Right now, Karisa is fully licensed but waiting on a few logistical pieces to be 100% in business. Her goal is to spray her partner’s operation and offer the service to other operations local to their area.
While waiting on approval, Karisa was able to use the CultivateGrowth grant to attend the Spray Drone End User Conference. She was able to learn about vegetation management, the importance of adjuvants while spraying, pesticide management, and many other topics. Before the conference Karisa said she was having a hard time choosing which sessions to attend because there were so many great options to choose from. In hindsight she says, “I knew I had a lot to learn, but I was able to get so much great information!”
She was grateful to learn more about starting a business and hearing others share their experiences in the same fields. Karisa noted, “Something that stuck with me was if you look out for your customers first, you’ll have customers for life. If you look out for you first, you won’t have as many customers.”
Karisa is excited to start this new opportunity of spraying fields with her drone and already has plans for her first season spraying. She is ready to hit the ground running once the final requirements are complete!
GreenStone is proud to support individuals like Karisa who are embracing options to propel forward in the agriculture industry. GreenStone aims to provide opportunities for all young, beginning, and small farmers and support their educational and personal growth efforts with our CultivateGrowth grant. To learn more about our CultivateGrowth grant program, click here.