| Below is a list of documents that may be required at some point during the farm loan process. However, every farm loan customer is unique and you may be required to provide additional documentation. To start the farm loan process and to obtain a preliminary decision letter, also known as a pre-qualification, requires only a completed application, three years tax returns (complete), and a balance sheet. To obtain a farm loan application contact a Farm Plus Financial representative. Below are several additional items that may be required at some point during the farm loan process, but may not be required initially.
Your Property
- Copy of signed sales contract including all riders
- Verification of the deposit you placed on the farm property
- Names, addresses and telephone numbers of all realtors, insurance agents and attorneys involved
- Copy of Listing Sheet and legal description if available
Your Income
- Three years complete individual tax returns including all schedules, and most recent year tax return for any corporation(s) with a 10% ownership or better
- Copies of your pay-stubs for the most recent 30-day period and year-to-date, if you receive a W-2 form
- Copies of your W-2 forms for the past two years, if applicable
If you will use Alimony or Child Support to qualify:
- Provide divorce decree/court order stating amount, as well as, proof of receipt of funds for last year
Source of Funds and Down Payment
- Savings, checking or money market funds – provide copies of most recent bank statement (account print-off is adequate)
- Stocks and bonds – provide copies of your statement from your broker or copies of certificates or account print-off
- Based on information appearing on your application and/or your credit report, you may be required to submit additional documentation
Debt or Obligations
- Prepare a balance sheet/financial listing all assets/liabilities. If you do not have a balance sheet completed, one is provided in the application which can be obtained by contacting a Farm Plus Financial representative.
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