10 



BULLETI17 968, U. S. DEPAETMEITT OF AGRICULTURE. 



Elements of cost. 



Per cent -of 



Per cent 

 ofaU 



rePttag ,^;Sn?ed* 

 each item represented. 



of cost. 



Application 



Application fee 



Association and secretary fees " ] 



Land bank fee 



Appraisal and costs connected with appraisal 



Title determination by Federal land banks 



All land bank and national farm loan association charges 



Abstract of title , 



Extra abstracting '. 



Title insurance , 



Surveying 



Affidavits 



LiBgal papers and fees for fiUing them out 



Lawyer fees 



Notary fees 



Recording fees and recording taxes 



Internal-revenue tax stamps 



Title charges, i. e., itemized charges other than those made by the land 

 banks and national farm loan associations 



Nonitemized charges 



AU charges 



18.9 

 33.2 

 50.9 

 34.7 

 34.9 

 18.4 



75.8 

 13.1 

 9.9 

 6.1 

 12.2 

 12.0 

 13.0 

 29.4 

 57.1 

 39.1 



3.31 

 6.58 

 16.95 

 9.71 

 7.35 

 3.75 



27.41 

 3.37 

 2.49 

 1.58 

 .56 

 1.35 

 4.92 

 1.07 

 4.15 

 1.92 



47.65 



48.82 

 3.53 



100.00 



Table IV. — Relation of the land bank and National Farm Loan Association 

 charges and the costs in connection ivith the title to the amount secured on 

 Federal farm loans of different sizes. 

















Per 





i 















cent 







Num- 

 ber of 

 mort- 

 gages 







Per 



Total 





land 



Per 





Size of 



Total 

 cost of 

 mort- 



cent 



land 





bank 



cent 



Size of loan. 



aver- 

 age 

 mort- 



cost of 

 loan 

 is of 



bank 

 and 



asso- 



Title 

 costs. 



and 

 asso- 

 ciation 



title 

 costs 

 are of 





aged. 



gage. 



gage. 



amount 



ciation 





charges 



mort- 









ofloan. 



charges. 





are of 



gage. 

















mort- 



















gage. 





$1 to $1,000 



347 

 530 



483 



$747 

 1,815 

 3,705 



836.01 

 41.28 

 50.43 



4.82 

 2.27 

 1.36 



$10. 90 

 16.37 

 24.39 



$22. 38 

 23.63 

 23.86 



1.46 

 .90 

 .66 



3.00 



1 001 to 2 500 . 



1.30 



2*501 to 5,000 



.64 



S'OOI to7 500 



205 



187 

 13 



6,392 

 9,186 

 16, 231 



68.09 

 82.74 

 120.23 



1.07 

 .90 



.74 



35. 55 

 52.01 

 90.04 



29.60 

 27.32 

 27.91 



.56 



.57 

 .45 



.46 



7 501 to 10 000 .... 



.30 



10 001 and over i. 



.17 









1,765 



3,641 



50.84 



1.44 



24.21 



24.64 



.68 



.70 







1 While $10,000 is by law the maximum which may be borrowed by one person from Federal land banks, 

 larger loans are evidently secured on what some borrowers consider to be one farm. This might be the 

 result if two or more persons owned distinct parts of what may be operated as a single farm, each owner 

 obtaining a loan on his part of the farm from the Federal land bank. 



The prospective purchaser of land who plans to buy with money, 

 part of which he borrows from a Federal land bank, should give due 

 consideration to the possibility of delay in the completion of nego- 

 tiations for a loan. Cases have occurred in which prospective buyers 

 have made deposits on land to secure a contract of sale, which con- 

 tract they have forfeited because they were unable to complete the 

 purchase, money which they depended upon Federal land banks to 

 furnish being held up for one reason or another. Frequently, delay 

 is due to failure to comply with the requirements of the Federal land 



