Echo on the Patronage programs. It is based on profitability of the lender, but some may pay you the equivalent of a month or more mortgage payment, so if you are paying for instance $1,000 per month, the patronage payment in this case would be $1,500 or so. And again, varies by lender and by year.
I think most pay it like a dividend check, and in my opinion, worth just rolling it back toward capital, or maybe using it for some improvement. Either way, it does in affect discount a marginally higher interest rate.
If you happen to be in central Texas, I can not say enough good about Marcus Amthor at Central Texas Farm Credit. He was incredibly helpful!
Edited by Dalroo (10/10/16 02:27 PM)
Edit Reason: clarity
Deep in the Heart of Texas
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