Your Dream Hobby Farm Awaits: New Mortgage Options in Canada

In this week's episode, Tracy chats with Tom Hickey from Farm Lending Canada about "Hobby Farm Mortgages." 

Until recently, there has been a significant gap in mortgage options between residential homes and agricultural lending, leaving those wanting to buy their dream hobby farm without a suitable mortgage. 

Are you thinking of purchasing your ideal country property? Are you a lender or mortgage broker?

If so, you won’t want to miss this episode.

Key Topics Discussed:

[0:00] - Show topic and guest introductions.
[1:33] - What qualifies as a hobby farm? 
[3:23] - How many acres are allowed under the hobby farm program? 
[4:30] - What types of income documentation are required for hobby farm lending? 
[5:49] - How is a Hobby Farm Mortgage different than a residential loan? Tom gives a great explanation of the difference between a traditional lending institution versus a Hobby Farm Mortgage through Farm Lending Canada.
[13:24] - Can/must the borrower live on the property? 
[14:46] - Is agricultural income considered in the application? 
[16:11] - What kind of zoning is acceptable for a hobby farm mortgage? 
[17:52] - Are there limits on outbuildings, animals, or farm activity? 
[18:50] - Who is the ideal client for the hobby farm product? 
[20:05] - Closing Notes and how people can learn more about Hobby Farm Mortgages

Tune in for this insightful discussion with Tom as he shares how Farm Lending Canada is helping Canadians achieve their dream of living in rural areas with hobby farm mortgages tailored to provide the right financing for their goals.

Thanks for tuning in,

Tracy

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🔎 Related Phrases:

Hobby Farm Mortgages, Rural Residential Mortgages, Farm Lending Canada, Agriculture, Farming, Farms, Canadian Farms, Alternative Lending for Canadian Farms, Financial Freedom, Farm Business, Farm Finance, Farm Management, Sustainable Farming, Transition Planning, Succession Planning, Farming Tips, Farm Business Management, Farming Success, Financial Independence For Farmers, Wealth Management for Farmers, Farm Funding Solutions, Agricultural Finance, Farming Innovations, Bank Loans in Farming, Farm Financial Solutions

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