Monday, July 2, 2012

Farm On Hold

Just a quick update, the farm purchase is on hold until next year.  The local credit union in a farm area is fine with us buying a farm, but the big national PMI company does not like the idea of getting stuck with acreage, so we will be saving up a little more so as to not need PMI.

FYI for anyone else looking into this, Farm Credit requires 30% down, but may take farming education and potential farming income into account when extending credit.