Note to Brokers
The underwriting and processing of commercial farm loans and rural housing loans is much different from residential loans and typical commercial loans, and many brokers may not have the experience to work on this type of property. The good news is that we will support your relationship with your client while we complete the loan from application to closing and pay a substantial fee to the referring broker.
Broker compensation varies depending on loan type and the contribution of the broker to the loan process. Janus Mortgage absolutely will not contact any potential client without your consent. Broker compensation on commercial farm loans is paid directly through closing. Brokers are consistently pleased with our level of expertise, communications, concern for borrowers and compensation.
All farm and rural housing loans require credit scores of at least 620. Hard money farm loans are the exception. Stated income loans available up to $150,000 on Rural Land Site program with maximum LTV 75% and up to $300,000 on Commercial Farm Loans with maximum LTV 55% and 680 minimum credit score.
No other bank statements, stated income, or light doc programs are available for any other Janus Ag Finance products. All other programs require full documentation of income with pay stubs and W-2s for salaried borrowers and three years complete federal tax returns for self employed borrowers. Debt to income ratios are calculated differently from residential loans, but in general debt to income ratios cannot exceed fifty percent.
Please Pre-Qualify your loan as if you were the borrower. Fill in your contact information in the contact application. The appropriate rep will contact you. We look forward to working with you!
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