A friend of mine who works as a loan officer with First South Farm Credit, Austin Outlaw, publishes an e-report with information from First South Farm Credit, and has graciously allowed me to re-post that report to this blog. This will become a regular occurrence here. Austin and the other good folks at First South Farm Credit are available to help you with lending on land and farm purchases.
Hope everyone has had a Merry Christmas and a Happy New Year. I wanted to take the time and show how rates closed out in 2012. Below is a look from August till December 31.
10 year fixed rate for August – December 2012
There has been a change in First South for 2013. We now only require a maximum of 2% of the loan amount or $1,000 in stock rather than the previous $5,000. As you probably already know, First South returns a portion of its profits to its borrowers. Our unique cooperative structure puts money in your customers pockets. As profits are returned to your customers, their cost of borrowing is reduced. They get a competitive rate from First South and we reduce their effective interest rate with our profit sharing refunds (As shown below).
*Rates may vary depending upon daily changes and credit quality
Austin Outlaw | Loan Officer |First South Farm Credit
Office (256)-831-6778 | Mobile (251)-362-1131
Fax (256)-831-6882 | Anniston-Oxford Branch
2341 Ala. Hwy. 21, South | P.O. Box 3288
Oxford, AL 36203-3288 | FirstSouthFarmCredit.com