Making Farm Ownership Possible
The USDA also offers joint funding options with other lenders to fund up to 100% of the FSA loan. Through this option, the USDA funds up to 50% of the loan and another lender funds 50% or more of the loan. Repayment terms on joint funding options extend up to 40 years.
Other benefits of FSA loans include
Lower Interest Rates
FSA loans offer lower interest rates than traditional lending programs.
Reserved Funding for Special Groups
Specific groups of farmers and ranchers can receive special considerations due to the numerous programs aimed at supporting farmers.
Funding for Disaster and Emergency Needs
When disasters or emergencies strike, the USDA offers special FSA loans to replace or restore equipment, machines, and property.
Faster Approval Times
FSA loan processing times are faster than traditional lending programs.
Down Payment Programs
Socially disadvantaged farmers have access to low down payment programs. Retiring farmers may also transfer their farms to future farmers via this program.