Your Dream Hobby Farm Awaits: New Mortgage Options in Canada

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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 "New Hobby Farm Mortgages in Canada."

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 or country property 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 fantastic explanation of a person seeking lending from a traditional lending institution versus 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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Show Links: 


   Farm Lending Canada: https://farmlending.ca






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Show Guest:

Tom Hickey
Senior Vice President, Business Development | Mortgage Agent, Level 1



Tom is a seasoned executive in the financial services industry with over 30 years of expertise in credit operations and lending. His experience includes executive positions at Paradigm Quest, B2B Bank, and AGF Trust. Tom’s core competencies include alternative credit operations and underwriting, credit policy writing, audit preparation, underwriting systems, portfolio oversight, and relationship management.

At Farm Lending Canada, Tom leads the strategic growth and expansion of the company’s lending products and services. He works with a diverse team of professionals and partners across the country to empower Canadian farmers and homeowners by offering flexible and affordable financing options that meet their unique needs and goals.

With a strong track record in leading teams and delivering exceptional service to consumers and third-party intermediaries, Tom has established himself as a go-to specialist in the field.

Tom cherishes his time outdoors and enjoys family camping adventures. His passion for nature and quality time with loved ones aligns well with Farm Lending Canada’s commitment to supporting farmers and agriculture.

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⚠️ Disclaimer - As always, this information is not intended to provide business or medical advice. To ensure that your own circumstances have been properly considered and that action is taken based on the latest information available, you should obtain professional advice from qualified business or medical professionals before acting on any of the information in this post.
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The Impact Farming Show

Welcome to Impact Farming, Farm Marketer's video and audio show dedicated to helping Canadian farmers excel in the business of farming. Our goal with this show is to introduce our audience to the people and ideas that are going to make an IMPACT on their farming operation. 

Show Host - Tracy Brunet
CEO of Farm Marketer 

Tracy and her husband are cattle ranchers in South East, Manitoba. As host of the show, primary producer and agvocate, Tracy is passionate about helping farmers succeed in the business of farming. 

In each episode, Tracy chats with today's most successful farm advisors and industry leaders to bring our audience the best and most important ideas. 

Connect with Tracy Brunet - Twitter / Facebook / Instagram / Linked in

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