Now that the fall harvest is winding down, Marl Carter suggests a "check-up" of a person's financial condition be given top priority on his or her list of things to do.

This review could result in major improvements to the operation that may benefit a person for many years.

Carter has more than 25 years experience in originating long-term agricultural real estate loans serving six states. He has seen many changes in the business. Several of these changes benefit farmers and ranchers and he suggests producers contact him for an informal discussion as to how these changes could save them money.

There is a very good chance that a review of a persons financial condition could result in a savings in interest rate of 2 to 3% and a reduction in annual payments by as much as 20 to 30%. A reduction of 2% on a $500,000 loan could save a person as much as $100,000 over the next 10 years. Some lenders have not followed the market in lowering the interest rates to their customers. These loans should be refinanced, while interest rates are low. Some applicants have several loans that could be combined through debt consolidation. Others have annual adjustable interest rate loans that should be converted to a long-term lower fixed rate of interest. Typically, this will lower the rate of interest and the required annual payment amount. All of these matters will be discussed during this financial review. Suggestions will be made as to how a person can lower and "lock-in" a low fixed rate of interest that will improve the operation.

Carter believes the economy is at the bottom of this low interest rate period. This is the reason he suggests borrowers promptly take time to review their financial condition with a knowledgeable lender. Sometimes, just one suggestion can make significant improvement to a persons operation.

Call Carter, at 405-844-8787, day or night, for current interest rates and other loan terms.

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