| pknoeber - 1/27/2016 10:07
It likely locks down every asset and doesn't allow access to that equity to leverage for new loans.
You can get FSA to subordinate that to another lender, but the other lender likely won't like that route.
My understanding of the beginning farmer land loans is you would only have 5% of the property's value in equity off the bat anyway correct? Until you get quite a few years in or values spike up there isn't a lot there to leverage against. By then couldn't you get a traditional loan and be done with the FSA? If I remember correctly fry said in another post he just did the FSA loan in the last couple years. |
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