Beginning Farmer Loans from USDA

Question

Has anyone used beginning farmer loans for a land down payment from USDA? How hard is it to qualify/do the paperwork? Appreciate any advice thanks!

Answer

To qualify you have to have your bank day you can't get traditional funding though them, not that hard if you are just starting out. Also you can't have very many years of product history. There might be more but those are the big ones. Lots of paper work but rates are really low so worth the pain.

Answer

It’s a pain for trying to buy land. The people were rude and didn’t want to listen to anything.

Answer

I used it.  Almost lost it due to lengthy closing time and the seller wanted to complete a 1031 and was getting antsy.  In the end the hassle was worth it.  Paperwork wasn’t too bad but they put a lien on everything.  Even wanted my lease information on a sprayer I used for custom spraying.

Answer

it’s a good program to take advantage of. Started in 2011 with an FSA loan,and  just purchased land with a farm ownership loan. The paperwork is a pain and all of your ducks have to be in a row but interest is cheap

Answer

Its a royal pain in the butt. Especially if have a loan officer that thinks they are better than you. It can be done and is a good program but lots of red tape

Answer

I work with this program. Can give some advice if needed with some more information from you (type of operation, past experience, etc.)

Call (844) 200-FARM

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Beginning Farmer Loans from USDA

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