What is a loan conversion option?
A conversion option is designed to allow our customers to convert from a shorter term (or variable farm loan) to a fixed rate on any chosen payment date. Conversion options allow our customers to easily convert to a longer term loan without having to submit new financials or paying for a new appraisal.
Simply call our office when a conversion may be needed, we’ll quote the market rate at the time of the conversion, and send you the documentation to amend your note. We rarely require new financials, and you will never need a new appraisal. This saves you time and money.
Our farm loan options are designed to provide flexibility to our customers by offering loan options including:
- loan conversion option
- split loan option
- season loan option
- no prepayment penalties
Call your local Farm Plus Financial representative at 866.929.5585 to discuss your farm loan options.