Are there prepayment penalties on farm loans?
There are no prepayment penalties on our loans meaning you have even further flexibility by having the option to pay off or refinance your loan early without financial penalty. A good reason to consider a lender who does not collect a penalty when paying your loan off early is the financial burden you may endure. In some cases, lenders may charge a penalty of more than 10% of your loan balance if you choose to pay early.
For more information on the farm loan options only available through Farm Plus Financial, contact us toll-free at 866.929.5585.