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
- Features & Benefits
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 5% 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.