Mary, Because you have equity in the property, there are specialized lenders who may be able to assist you with acquiring the other family member's interest. In northeast Ohio, we often use Farm Credit Services of Mid-America for the kind of purchase you are seeking. (Production Credit is the name for some other agencies located nearby.) Farm Credit offers terms up to 30 years, fixed rate options, no pre-payment penalties, and more. Also check loan programs that may be available thru the Dept. of Agriculture for your area. For more info, Farm Credit's web site is as follows: http://www.e-farmcredit.com
Given your intended use, you should also check with local conservation groups in your area as there may be additional incentives available to you by working in conjunction with them. Good Luck!

Thu Jul 17 2008, 12:41

Some states, such as CA, offer incentives. I'd call a local title company and ask the question.

Thu Jul 17 2008, 01:21

yes, check with your local banks - the ones where the farmers go for their loans. they will specialize in these things. big lenders are doing away with vacant land loans. too risky.

Wed Jul 16 2008, 17:03

It could be thru your local bank than a standard lender.
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Tue Jul 15 2008, 21:30