By: Lumen Mortgage, specializing in agricultural loans and equestrian mortgages for properties in Oregon and California.
By: Lumen Mortgage, specializing in agricultural loans and equestrian mortgages for properties in Oregon and California.
Equestrian Mortgage is your trusted partner for navigating the best mortgage options for equestrian and agricultural properties, including specialized agricultural loans, hobby farm loans, and jumbo portfolio lending for horse properties in Oregon and California.
An equestrian property refers to real estate that includes land and facilities specifically designed for the care and housing of horses. Equestrian properties can vary significantly, ranging from small acreages suitable for a few horses to expansive ranches and centers dedicated to breeding, training, or competition.
Common features of equestrian properties include:
- Acreage that may consist of multiple tax parcels and agricultural zoning.
- Outbuildings such as stables and barns.
- Riding facilities like trails, indoor or outdoor arenas, and paddocks.
- Residences for owners, renters, guests, or staff.
The zoning, size, and features of an equestrian property can impact available mortgage options, making it essential to consider various lending choices specifically for equestrian properties before applying for a mortgage.
Here are our residential and agricultural loan options available for equine properties:
Residential Mortgage Loans
Conventional loans follow the underwriting standards set by Fannie Mae or Freddie Mac. These government-sponsored entities allow mortgage lenders to finance properties with agricultural zoning, provided that such zoning is typical for the area, the property is primarily used for residential purposes, and the zoning/use does not adversely affect the property’s value or marketability.
Government-backed loans, which are insured or guaranteed by the Federal Housing Administration (FHA), the U.S. Department of Veterans Affairs (VA), and the U.S. Department of Agriculture (USDA), also permit residential properties with agricultural zoning.
Jumbo loans are mortgages that exceed the conventional conforming loan limits. Many jumbo loans have conservative guidelines for properties with non-residential zoning, extensive acreage, or agricultural improvements. If the property generates income or has substantial agricultural features, it may not qualify for these common mortgage options. In such cases, you might consider alternative horse property financing solutions:
Hobby farm loans are designed for properties with significant land, equestrian features, and potential income sources, such as hay leases or horse boarding. These farm loans are ideal for individuals who do not depend on farming as their primary source of income and intend to use the property mainly for personal or recreational purposes. If the equestrian property has more extensive agricultural features than a typical hobby farm, an agricultural loan may be more suitable.
Agricultural (ag) loans can be utilized to purchase or refinance equestrian properties, farms, ranches, orchards, vineyards, wineries, nurseries, and raw land. The available options depend on land value, property improvements, loan amounts, and borrower qualifications. Agricultural loans provide fixed, variable, and adjustable rates, as well as lines of credit, with repayment schedules that can be monthly, semi-annual, or annual.
Take a quick "10-minute Trail Ride Financing Chat" with one of our knowledgeable agricultural loan officers. This relaxed conversation can help you explore the best agricultural loans, including options for equestrian mortgage and horse property financing, tailored to your goals and the unique needs of your equestrian properties. To get started, simply fill out the form below or call us at: 503-966-9255
920 SW 6th Ave ste 1200, Portland, OR, USA
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