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Life Insurance Company Farm-Mortgage Loans: A Statistical Study of Loans Outstanding, September 30, 1966

Author

Listed:
  • Penson, John B., Jr.
  • Warren, Forest G.

Abstract

Characteristics of life insurance company farm-mortgage loans changed during the 10-year period studied--1957 to 1966. The average term has increased from 19.3 years for loans made in 1957 and outstanding in September 1966 to 21.1 years for loans made in 1966. The average interest rate increased from 5.2 percent to 5.9 percent. The average appraised value per acre increased from $117 to $187 and the average loan per acre increased from $62 to $97. For the United States as a whole, the loan to appraised value ratio decreased from 53.0 percent to 51.9 percent. The most significant characteristics in determining the amount of loan per borrower were the number of acres mortgaged and the appraised value. There were significant variations in the characteristics among the farm production regions studied.

Suggested Citation

  • Penson, John B., Jr. & Warren, Forest G., 1970. "Life Insurance Company Farm-Mortgage Loans: A Statistical Study of Loans Outstanding, September 30, 1966," Miscellaneous Publications 322784, United States Department of Agriculture, Economic Research Service.
    • Handle: RePEc:ags:uersmp:322784
    DOI: 10.22004/ag.econ.322784
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