About a loan for 16 ac. of farm ground who makes these kind of loans?
Answer:
Over 10 acres, you generally need an Agricultural Loan.
The local branch of your Department of Agriculture will have a list.
By comparison with residential loans, the competition is limited and the rates are high, but that's what you can get.
local bank is your best bet. Most large mortgage companies won't touch farm ground because the foreclosure laws are different than a regular residential property.
You can also try farm credit if they have a branch in your area.
You will need 25%-30% of the purchase price as down payment, that's normal for vacant ground. I think nowadays the banking laws state they have to have at least 20% down for vacant ground as a minimum.
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