USDA Guaranteed Loans
Farmer Mac purchases the guaranteed portions of loans guaranteed by the United States Department of Agriculture (USDA) under the following programs:
- Farm Service Agency (Farm Ownership and Term Operating)
- Rural Development Communities Facilities
- Rural Development Business and Industry
USDA-guaranteed loans are exempted from the credit underwriting, collateral valuation, documentation and other standards that are required for Farmer Mac I Farm and Ranch Program loans.
Since January 2010, all purchases of USDA-guaranteed portions have been made by Farmer Mac’s subsidiary, Farmer Mac II LLC. The Farmer Mac II LLC website contains helpful information with various sections including Lender Access, Program Description, Products, Reference Guide, Historical COFI Rates, and Investors. Access to the Farmer Mac II daily rates is available for approved lenders.