Do you dream about owning your own farm but lack the funds to afford the down payment on a property? If so, you’re not alone. Many aspiring farm owners have the will to make their dreams a reality, but are desperately looking for a way.

Thankfully, there is a simple and cost-effective solution to this dilemma called the FSA Farm Ownership Loan Program. This federal farm loan can provide new farmers with the financial means that they’ll need to secure their own land. And the best part is that these loans do not require a down payment. That means you’ll be left with more money in your pocket to get your farm up and running. 

In this article, we’ll explore the benefits and eligibility requirements of the FSA’s farm ownership loan program.

What Are the Benefits of the FSA Farm Ownership Loan Program?

We’ve already mentioned that FSA farm ownership loans do not require a down payment. But what are some of the other notable benefits?

The most notable benefit of these loans is that they’re backed by a federal agency. That means that most lenders will be willing and able to offer you a low and very manageable interest rate.

They can also be leveraged in a wide variety of ways. These FSA farm loans are designed to provide entrepreneurial farmers with the financial aid to be able to buy land. But there are a wide range of additional ways that one of these farm loans can be put to use. For example, in addition to helping farmers to buy land, an FSA loan can be used to:

  • Expand on existing farming operations.
  • Renovate existing agricultural infrastructure.
  • Purchase a small farm or ranch.
  • Acquire and install new water conservation technology. 

Who Is Eligible to Receive an FSA Farm Ownership Loan?

In order to be able to qualify for an FSA farm loan, you’ll need to:

  • Be a documented US citizen.
  • Be unable to receive credit from other lenders.
  • Have a strong credit score (ideally over 600).
  • Be able to demonstrate a clear and profitable plan for your farming enterprise.

Apply for a Farm Loan Today

Are you ready to shop for farm loan options that will be able to meet the needs of your business? If so, the expert lenders over at MSF Agriculture are here to help. Contact our office today to get started!