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Iowa | The FSA limits on the 50% loans are for their side, not the total. I was able to buy a 136 acre farm with it at 10600 per acre with 15% down. I about maxed it out with dual 590ish k loans. I honestly probably couldn't have justified the property without the lower interest on half of it from the fsa. It works out to a savings of close to 25k in interest every year on the note.
As to the original posters question, I look at it this way. I have regretted more opportunities that I didn't take than I have taken. Rather than him and haw about it, put some numbers to it. Figure in historical average grain prices, your average yields, see if you can qualify for and fsa/usda programs. See if it pencils out at all. Talk to the wife of ask yourself if you are fine with living with less cash flow for a few years to be better off later. Im around 40, I hope to be able to buy another chunk later after this one is more payed off. But honestly if I get closer to 60 and my kids aren't taking an interest in farming I probably won't buy any more because I want to have the cash flow to enjoy life while still mobile. | |
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