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SW MN | I think that this is for guaranteed loans and it is $2,343,000, not direct loans or partnership loans. As of today on Farmers.gov, $600,000 is the limit for a direct loan, and $300,150 for the Down Payment program.
$600K doesn't go far. $300,150 on the down payment doesn't go very far either. In MN, the banks can work with RFA to do a 50/50 on the 50% of outside financing.
The loan options for beginning farmers at the point of where the real estate market limits a lot of assistance to around 40 acres in much of the "corn belt". Fringe corn belt will get you a bit more, but maybe closer to an 80. | |
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Land outlook
