Eligibility - Farm Financing
To qualify for financing from Graco Mortgage, you must be a farm producer, own agricultural land, or be engaged in the production of agricultural products. You must generate or intend to generate annual gross farm income (on a sustained basis) of at least $500.
Loans and services are also available if your farm base is within our service territory, but you desire financing for a farm operation that you own in another state.
Full-time Farmer and Part-time Farmer Eligibility
We serve a broad range of producers, from major, commercial sized operations to part-time or lifestyle farmers. Applicants whose primary business is farming are eligible for a wide range of financing needs. If 50% or more of your income or assets are farm related, you qualify as a full-time farmer.
Others who produce ag income, but rely upon off-farm employment or other sources of income, are generally classified as part-time farmers. You are eligible to borrow from Graco Mortgage from a range of needs.
However, in some situations the scope of our lending programs is restricted based upon the amount of farming you do. Fore more information, contact us now.
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