Farm Loans & Ag Mortgages

• Available for agricultural use: farmland, home quarters are not eligible 
• Interest compounded annually 
• Minimum credit limit - $100,000 
• Term length 25 years 
• Amortization 25 years 
• Sub-loans 
  • Minimum credit limit - $10,000 
  • All loans and mortgages are eligible with the exceptions of: 
    • Consumer mortgages 
    • Business mortgages 
  • Interest rate will be based on sub-loan 
  • Term and amortization will be based on subloan 
  • Repayment terms will be based on sub-loan 
  • Prepayment options will be based on sub-loan 
  • Property sold – option to waive will be based on sub-loan 
  • Convertible and buy down options/consolidations will be based on sub-loan 
• Applicable application fees on sub-loans only 
  

• Available for agricultural use: farmland, home quarters
• Interest compounded annually
  
• Term lengths 1 ,2, 3, 4, 5, 7 and 10 years 
• All payment frequencies available
• Prepayment options 
  • You can prepay up to 20% of the original amount of the mortgage during each 12-month period from the anniversary date. This privilege is not cumulative from year to year and does not apply if you wish to prepay the mortgage in full, renegotiate the rate, or prepay more than 20%. 
  • If you wish to prepay in full, renegotiate, or prepay more than 20%, you'll pay the greater of:
    • 90 days’ interest or 
    • the interest difference of the current posted rate of a similar mortgage type with an equal term. 
• Convertible and buy down options/consolidations:
  • Pay the greater of 75% of: 
    • 90 days’ interest or 
    • the interest difference of the current posted rate of a similar mortgage type with an equal term. 
  • May select any Ag Closed Mortgage product.
  • For consolidations, the above penalties shall apply or a blended rate as approved by our Retail Team.
• Early renewal
  • 3-month option to early renew
  • Current expiry must be within 3 months or less
• Applicable application fees
  

• Available for agricultural use: farmland, home quarters
• Interest compounded annually
  
• Term length 5 years – interest only payments
• Term length 1 year only – lump sum due 
• Repayment terms
  • On demand, interest only - interest payment to be more frequent than annually 
  • On demand, lump sum – due in 1 year or less
• Prepayment options 
  • Prepay the whole or any part of the principal amount outstanding without penalty, unless payment is received directly or indirectly from another lender or financial institution. If that is the case, you shall pay a 90-day interest penalty.
• No penalty charged if the property is sold
• Convertible and buy down options/consolidations:
  • Must be termed out as a blended product
• Applicable application fees

• Available for agricultural use: farmland, home quarters
• Interest compounded annually
  
• Term length: 1 year
• All payment frequencies available
• Unlimited prepayment
• Convertible and buy down options/consolidations:
  • Blended - upon payment of a $250 conversion fee you may select any Ag Closed Mortgage product
  • Non-blended - must be termed into a new mortgage
• Applicable application fees
  

• Available for agricultural use: farmland, home quarters
• Interest compounded annually
• Maximum credit limit - $500,000 
• Term length 5 years 
• All payment frequencies available 
• Unlimited prepayment
• No penalty charged if the property is sold
• Convertible and buy down options/consolidations
  • Upon payment of a $250 conversion fee you may select any Ag CALA Mortgage
  • Conversion fee is not chargeable if the loan was charged the 0.25% of principal as the initial application fee
• Applicable application fees
  

Exploring different types of loans, varying interest rates, loan amounts, and terms and conditions can feel like a full-time job by itself. Add in filling out lengthy application forms and waiting to hear back about approval, and it’s not a stretch to say the process can be fairly difficult.

While decisions about individual loans come down to factors like past performance and plans for the money loaned, you can count on an easier experience with us. If you choose to apply for an All in One Mortgage, for example, you can save yourself a lot of time.

Farms can need a variety of small and large, short-term and long-term loans and lines of credit to support operational needs and plans for the future. With an All in One Mortgage, the credit limit you are approved for applies to all our loans and lines of credit. You can choose how to use your funds! And, you can cut down on legal fees with a single application process.

Because of the flexibility it offers, along with the time and cost savings, our All In One Mortgage is a great choice for farmers like you. However, you can also choose from closed,  open, fixed, and variable agricultural mortgages — in a variety of term lengths.

More options mean you can find the loan that supports your needs and helps propel your business forward.

Learn more about choosing between an ag loan and an ag lease for equipment.

A farm loan can be seen as a specific type of mortgage, at least when it’s used to purchase land intended for farming.

You can also use a farm loan for other types of purchases, however. The loan funds could go toward expanding or replacing your fleet of farm equipment or improving and modernizing your farm’s infrastructure, for example. In those cases, there’s a clear difference between a farm loan and a mortgage.