Initial Farm Loan Application Checklist
Below is a list of documents that may be required at some point during the farm loan process. Every farm loan customer is unique and you may be required to provide additional documentation.
To start the farm loan process and obtain a preliminary decision letter, also known as a pre-qualification letter, Farm Plus requires:
- a completed farm loan application;
- three years of tax returns (complete); and
- a balance sheet.
To obtain a farm loan application, contact a Farm Plus Financial farm loan representative at 866-929-5585 or start your farm loan application online.
Checklist of Additional Documentation
Below is a list of several additional items that may be required at some point during the farm loan process, but may not be required initially.
- 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.
- 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 statement listing all assets/liabilities. If you do not have a balance sheet completed, one is provided in the farm loan application which can be obtained by contacting a Farm Plus Financial representative toll-free at 866-929-5585.