Changes to FSA regulations have resulted in changes to both the Direct and Guaranteed Loans available through FSA. The new regulations have removed Guaranteed Operating term limits. Previous and current guaranteed loan borrowers who were not eligible for further guaranteed loans due to the previous 15 year eligibility term limit may now be eligible for further guaranteed loans through their commercial lender.
Also, the interest rate was reduced on Direct Loans where FSA provides 50 percent or less on jointly financed purchases of real estate also called Direct Farm Ownership Participation Loans. The interest rate is currently 2.5%, but is subject to change.
No comments:
Post a Comment