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South Dakota | You should be able to finance $600,000 of it with FSA Direct. You do need 5% down and 3 years schedule F to qualify. You also need a business plan that is going to make the payment.
The additional $200,000 would come from a local lender. They will take a second mortgage on the property and have FSA subordinate their lien position so this loan shouldn't require any additional down payment. My quick calculation of Principal and Interest is $50,000 annually | |
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Looking For Advice on a Farm
