Scotia Farm Legacy Mortgage
Right for you if:
You want to transfer farm property to your offspring
You want flexible long-term financing to buy farmland, make improvements, or restructure existing loans
Fixed or floating interest rate
with the option to fix at any time.
Payment terms to match seasonal cash flow.
Terms of 1 to 5 and 7 and 10 years.
The seller is allowed to provide a vendor take-back for financing the buyer in the transition.
- Payment terms to match seasonal cash flow
- Annual prepayment privileges to 15% of the original balance
- Down payment minimum of 10% of the value of the farm property
- The seller is allowed to provide a vendor take-back for financing the buyer in the transition
Rates & Fees
Pricing for Scotia Farm Legacy Mortgages is determined by the amount of the credit request, security provided, and your credit history.
Interest-only payments may be permitted for up to 5 years on both the mortgage and vendor take-back loan (some performance qualifiers apply).
Scotia Farm Legacy Mortgages are term obligations secured by farm real estate and payable according to a regular schedule1.
Subject to credit approval and security provided.