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IL | Good evening, I was wondering if any of you had experience with The Beginning/Young Farmer loan. There was an elder in the community who has passed away.. owns quiet a little ground. I’m sure I’m to late for this ground.. but would love to be ready for next time an opportunity comes around. I’ve always heard FSA puts up 45% of the money, and the bank puts up 50%.. it’s up to you to make the 5% down payment. I’ve also heard it’s 10% down. Are they 20 year, or 30 year notes? Anyone deal with this? I know FSA requires a lot of paperwork. I’ve only had 1 operating loan with them.. so I’m not sure I have enough history yet anyways. The FSA guy was very confident in me with my operating loan.. but I only spoke to him one time over the phone. Besides that, my banker took care of it and said he was great dealing with. I was hoping to get a little advice, or some tips from anyone. I’m 20 years old, and beginning farming. I’m on my final year of college. Thank you in advance. | |
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FSA New/Beginning Farmers Loan
