Question 1

Can I get a farm loan without tax returns?

Accepted Answer

Yes. Turnrow's lending partners lend up to $1.5M on agricultural land with no tax returns, W-2s, K-1s, P&Ls, or farm financials — ever. Qualification runs on the land itself (up to 70% LTV of appraised value) and a 680+ credit score for at least one guarantor, checked with a soft pull.

Question 2

What does a no-doc land loan actually mean?

Accepted Answer

No-doc means the lender never asks for income documentation — no tax returns, W-2s, K-1s, profit-and-loss statements, or farm financials. The loan is underwritten on the collateral (up to 70% LTV of appraised value) and a soft credit pull showing 680+ for at least one guarantor.

Question 3

What credit score do I need for a land loan?

Accepted Answer

At Turnrow, at least one guarantor needs a 680+ credit score, verified with a soft pull that does not affect your score. That is the only personal financial threshold — there is no income, debt-to-income, or net-worth test alongside it.

Question 4

Does a soft credit pull hurt my credit score?

Accepted Answer

No. A soft pull is invisible to other lenders and has zero effect on your score — you can apply, get a written term sheet in 24–48 hours, and walk away with your credit exactly where it started.

Question 5

Can my LLC borrow, and should I close in an LLC or personally?

Accepted Answer

Yes — LLCs borrow at Turnrow every week, alongside individuals, trusts, and partnerships. Most borrowers close in an LLC for liability separation and cleaner ownership, with a member providing the 680+ personal guaranty. Terms and pricing are identical either way.

Question 6

Can a trust or partnership take out the loan?

Accepted Answer

Yes. Trusts and partnerships are eligible borrowers, same as individuals and LLCs — up to $1.5M, up to 70% LTV, with one 680+ guarantor. Family land held in a trust does not need to be re-titled to get financed.

Question 7

What if my credit score is below 680?

Accepted Answer

The 680 floor applies to at least one guarantor — not every borrower on the deal. If your score is below 680, adding a spouse, family member, or business partner who clears it keeps the loan fully on the table.

Question 8

Can I use a co-signer or a partner as the guarantor?

Accepted Answer

Yes. Only one guarantor on the loan needs a 680+ score, so a co-signing spouse, parent, or business partner can carry the credit requirement for the whole deal. The guarantor is checked by soft pull and does not have to be on title.

Question 9

Do I need farm income or farming experience to qualify?

Accepted Answer

No. Turnrow does not require farm income, an operating history, or any agricultural experience. The loan is underwritten on the land's appraised value — up to 70% LTV — and one guarantor's 680+ credit, not on who will drive the tractor.

Question 10

Why do banks decline profitable farmers?

Accepted Answer

Because the tax code and bank underwriting pull in opposite directions. Depreciation, Section 179 expensing, and prepaid inputs make a genuinely profitable operation show thin or negative income on a Schedule F — and the bank underwrites the Schedule F, not the operation.

Question 11

What does non-owner-occupied mean — can I live on the property?

Accepted Answer

Non-owner-occupied means neither you nor a family member uses the property as a primary or secondary residence. You can farm it, lease it, improve it, and visit it — you cannot live in a dwelling on it while the loan is outstanding.

Question 12

What is a business-purpose loan?

Accepted Answer

A business-purpose loan funds a commercial objective — buying farmland to operate or lease, pulling equity out for the operation, bridging a 1031 exchange — rather than personal, family, or household needs. It is the legal category that makes true no-doc lending possible.

Question 13

Will you verify my employment or income at all?

Accepted Answer

No — not at application, not before closing, not ever. Turnrow runs no employment verification, orders no tax transcripts, and never asks what you earn. The file consists of the appraisal, title work, a soft-then-hard credit sequence, and standard identity and entity documents.

Question 14

How is this different from the stated-income loans of 2008?

Accepted Answer

Stated-income loans let borrowers invent income to qualify for owner-occupied homes at 95–100% financing. This is the opposite structure: no income is claimed at all, the property is business-purpose collateral, and leverage is capped at 70% LTV of independently appraised value.

Question 15

Can I get a land loan if I am self-employed?

Accepted Answer

Yes — self-employment is irrelevant here because income is never part of the file. Whether you are a 1099 contractor, an S-corp owner, or a full-time farmer, qualification is the same: land appraising at 70%+ above the loan amount and one guarantor at 680+ credit.

Question 16

How much down payment do I need to buy land?

Accepted Answer

Plan on at least 30% down. Turnrow's lending partners lend up to 70% LTV of the lesser of purchase price or appraised value, so on a $1M purchase that appraises at value, the loan tops out at $700K and you bring $300K plus closing costs.

No-Doc & Qualifying