Refinancing Q&A

When Ashley and Daniel Talley began building their dream home in 2019, they lived in a mobile home parked in what would one day become their front yard. The land, surrounded by towering south Arkansas pines and open pasture, had been in Ashley’s family for years. As the foundation was poured and the framing took shape, Ashley often walked through the space, praying over the home they were creating and the people who would one day fill it. Today, that prayer is being lived out. Their home has become a peaceful retreat not only for their family, but also for their church community and close friends.  

Five years into living there, their home still holds the same joy and purpose, but when their original loan came due and interest rates climbed, they needed a solution that offered stability and flexibility. Read on as Ashley shares their story, their home, and why it still means so much to them. 

What factors influenced your decision to refinance, and how did you determine it was the right financial move? 

Our balloon note came due, and our rate jumped from 5.5% to 7.5%, so I knew it was time to explore other options. Refinancing with Farm Credit let us shorten our loan from 30 years to 20 and roll in our home equity line of credit from the pool, which saves us money on interest overall. Even though our new rate is a bit higher than before, it’s still under prime, and cutting five years off our loan felt like a huge win.  

What was your experience like working with Farm Credit during the refinancing process? 

It was truly a wonderful experience. Our loan officer, Milly, made everything smooth and stress-free. She took care of all the details, answered every question, and made sure the process was quick and simple. You could tell she genuinely enjoys helping people and it felt more like working with family than a financial institution. Her professionalism and kindness made all the difference, and honestly, it made me feel like Farm Credit was where we belonged. 

Was there anything about the refinancing process that surprised you, whether positive or challenging? 

The biggest surprise for me was the rate conversion option. Every year, we can switch to a lower rate if it’s available with no extra appraisal, no mountains of paperwork, and no headache of refinancing. And the fee is minimal! I don’t think enough people know about this, but it made refinancing an easy decision. Honestly, it was a no-brainer. 

What’s one unique or personal touch to your home that really makes it yours? 

Our home is a true labor of love. My husband is a contractor and did all the finish work, and I handled the design. We’ve flipped houses in the past to build equity, but this time we finally got to build for us instead of for resale. What I cherish most is how this process brought us closer together. Every wall, every corner, holds the story of us. 

What’s your favorite memory in this home so far? 

Hosting our Sunday night church Connect Groups are some of my most cherished moments. Sitting around the gable, sharing life, laughing, crying, celebrating, and supporting one another—it’s everything I hoped our home would be. From the very beginning, I wanted this to be a place where God was glorified, where His Word was spoken, and where we could extend hospitality to others. Having that vision come to life means the world to us. 

Do you see this as your "forever home?" If so, what made you decide this was the place to put down lasting roots? 

Without a doubt, this is our forever home. We built on family land, surrounded by the people we love. This land holds my childhood. I was brought home from the hospital here, lived next door until I was 14, and grew up going to the church just down the road. It feels like everything has come full circle, and we knew this was the place we wanted to build, and our children would always have a place to call home.