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| We called the FSA office today to see about the New Farmer program and were told that he or I would be denied (dont have as much as him but a fair savings) due to having substantial downpayment and the ability to get commercial financing. Guess one of the criteria for the new farmer program is it is a downpayment program so they help with the first half but if you can get financing to cover the majority of the payment and pay for the rest out of pocket they will not finance you.. Interesting but will keep looking into it.
Their equipment 2% loans sound nice for a 7 year hitch. didnt find out if there is an early payment penaltty though.
Well we'll see how the auction goes next week. Have to try to play I guess. Wish Ed was my neighbor...would give me an edge up on my friend and at least one of us would have a chance. | |
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New Farmer wanting to buy land...
