20 Miles West of Indianapolis Indiana | swkscornfarmer - 1/14/2021 21:48
Dont amortize do a equal principle payment probably be very similar to your idea and simplified
So then your payment is less each year? Hadn’t thought of that. Does that loan have a specific name?
Maybe a dual loan of each then can pay one off early still to get total dollars out down more significantly early.
What I’m after if basically I see me quitting my town job sooner then later, so will have less yearly income but basically trying to lower yearly cost. (Have an opportunity to go from about 450 rented acres to about 900-1000 rented acres in a few years). Before everyone says “well you’ll be making more with the additional acres... yes, but by my calculations not as much as my town job, and definitely not a consistent. So trying to manage things in a manner that allows me to sleep at night. |
Anyone ever get 2 or 3 loans on a farm to stair step payoffs?
