It's all about the purpose of the loan, not the collateral. If Farmer Brown wants to buy land on which there are farm buildings and a residence, if he's buying it for the residence, it's consumer. If he's buying it to operate the farm, with the residence secondary, it's an ag loan. If he's after both the farm and the residence, you've got to decide some other way -- relative importance of farming vs. residence, allocated costs, acreage allocation, etc. -- Or you break it into two loans, one consumer and the other ag.
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John S. Burnett
BankersOnline.com
Fighting for Compliance since 1976
Bankers' Threads User #8