Posted 11/9/2012 14:43 (#2687928 - in reply to #2687877) Subject: RE: Since land is hot topic today
Southern MN
The max is much less than half million. Here is how its worded, that last one is the overall limiter:
* The maximum loan
amount does not exceed 45
percent of the least of
(a) the purchase price of the
farm to be acquired;
(b) the appraised value of
the farm to be acquired or;
(c) $500,000 (Note: This
results in a maximum loan
amount of $225,000).
Since land is hot topic today
