by
Stacy Wise
| Feb 26, 2018
Question: Do I need 20% cash down to buy a farm or recreational property?
Answer: No. Actually, many people do not have a 20% down payment in cash. In general, most banks want some amount of equity in the transaction and people have always heard a 20% down payment is required, but it can be more or less. Each bank may require a different amount of equity, but the source of that equity can come from cash, another piece of property you own or even your home. If you are interested in purchasing a farm or recreational land, contact one of our experienced lenders and we'd be happy to discuss your next land purchase.
Our Fulton County Loan Officers
Mitch Coonradt, Assistant Vice President
309-647-5000 | email
Bruce Edwards, Senior Vice President
309-647-5000 | email
Jeff Strode, Vice President
309-647-5000 | email
Doug Tindall, Vice President
309-547-2246 | email
Our Marshall County Loan Officers
Denise Salisbury, Loan Officer
309-364-2302 | email
Robert Watkins, Senior Vice President & Henry Banking Center Manager
309-364-2302 | email
Our McDonough County Loan Officers
Jordan Pounders, Assistant Vice President
309-833-4111 | email
Ryan Riggins, Assistant Vice President
309-833-4111 | email
Ryan Van Dolah, Loan Officer
309-833-4111 | email