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Mortgage Refinancing Help: Cooperatives
“For both new buyers and refinancers, it's important to understand what a no-cost mortgage loan or a no-cost refinance loan really means. "No cost" does not mean that closing costs (also known as settlement costs) have been erased. It means that the closing costs will be factored into the interest rate associated with the loan. Of course, this also means that, all other things being equal, the interest rate associated with a no-cost mortgage will always be higher than one where the borrower pays the closing costs up front.
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Mortgage Refinancing Help
: Business: Agriculture and Forestry
: Cooperatives (15)
 Be Inquisitive. It's your responsibility to make sure that you understand the terms of your loan. Ask questions and listen carefully to the answers. Don't sign your loan documents until you are satisfied with the information and confident that you have made the right decision.
 See also:
 U.S. Department of Agriculture Rural Business-Cooperative Service »
Mission is to promote understanding and use of the cooperative form of business as a viable organizational option for marketing and distributing agricultural products. Includes USDA eForms, a library of publications, industry regulations, and a directory of field offices.
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 United Flower Growers »
Includes auction and grower information, a newsletter, and flower calendar.
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 Erie Crawford Cooperative »
Providing feed, seed, fertilizer, farming supplies and home and garden needs to the Erie-Crawford Counties in Pennsylvania. Lists of members, products and services.
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 Agricore United »
Agricore, a farmer-owned business, specializes in fertilizers, herbicides, and pesticides, and seed sales. Includes information on buying and selling crops, a facility locator, and general information on agriculture.
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 Cooperative Resources International »
A holding cooperative comprised of AgSource Cooperative Services, Genex, and the Central Livestock Association. Contains information on dairy and beef genetics, online product store, and agriculture links.
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 Tennessee Farmer's Cooperative »
Locations and hours for farm co-op stores around the state, plus state agriculture information.
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 National Council of Farmer Cooperatives »
A nationwide association of cooperative businesses owned and controlled by farmers. Includes information on education, awards, and the cooperative business model.
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 Klein Karoo Co-operative »
South Africa. Produces ostrich leather, ostrich feathers and ostrich meat, as well as providing multiplication, distribution and marketing of quality pasture and vegetable seed.
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 Countryside Cooperative »
Wisconsin cooperative offering crop supplies, feed, fuel, and graining marketing services to farmers. Includes list of branch locations and a co-op newsletter.
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 Alpaca Fiber Cooperative of North America »
Cooperative which serves the North American alpaca industry by turning members fiber into finished products and returning profits to the member/owners.
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 Western Iowa Cooperative »
Provides grain cash bids, agronomy, livestock and petroleum news, and directory of locations. Main office in Hornick.
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 ACDI/VOCA »
Nonprofit co-op promoting market liberalization by building international cooperative partnerships and encouraging the sound management of natural resources. Includes a member directory, regional farm co-op resources, and information on volunteering.
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 Agriculture Co-operatives of Canada »
Official government information and links, and laws governing the cooperative model of business in Canada. In French and English.
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 Thumb Oilseed Producers' Co-operative »
A soybean processing facility located in Ubly, Michigan. Gives information on products, the processes used and contact details.
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 Cooperative Elevator Association »
Locations in Ocheyedan, Hartley, and Sibley Iowa. Includes listing of local grain prices, agriculture news, and farming links.
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 Be Ready. After your loan is approved, you'll need to sign your loan documents and provide a check for any out-of-pocket closing costs. Make sure the funds are available in your account, and be ready to make room in your schedule to read and sign your loan documents as soon as possible.
Don't rely on published rates. "No one's going to advertise their worst product," says Keith T. Gumbinger of HSH Associates, a Butler, NJ, firm that tracks mortgage rates. "They advertise the best possible rate, which probably gets offered to only the top 10 percent of applicants."
Short-term mortgages offer lower interest rates than long-term mortgages. You save money by the lower interest rates and shorter payment period. The trade off is a larger monthly payment, but this option can save you thousands.
If you want to make sure the interest rate your lender offers you is the rate you get when you close the loan, ask about a mortgage lock-in (also called a rate lock or rate commitment). Any lock-in promise should be in writing. Make sure your lender explains any costs or obligations before you sign.
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