Who is Farmer Mac?
We are the nation’s premier secondary market for agricultural real estate loans. We were chartered by Congress in 1988 to help provide better access to affordable financing for American agriculture and rural communities. Although we were established by Congress, we are not part of the federal government or a government agency.
Does Farmer Mac lend directly to farmers?
We don’t lend directly to farmers, but we do work with banks and other financial institutions across rural America to give them access to our full suite of loan products with favorable rates and terms so that you, their customer, can have more financial choices and, in many cases, better pricing on your farmland loan.
Where can I get a Farmer Mac loan?
We can work with your bank, or we can recommend a Farmer Mac approved lender near you.
How does Farmer Mac benefit farmers?
Through our nationwide network of lenders, we help provide farmers and ranchers with access to flexible and affordable financing options. Whether you are looking to buy more land, refinance your existing land loan on better terms, or use the equity in your land to gain liquidity, Farmer Mac offers low rates and up to 30-year maturities. Our expansive suite of loan products includes fixed or adjustable rates as well as a revolving line of credit, so you can rest easy knowing you can find a loan product to meet your needs.
Can I get a Farmer Mac loan through my bank?
Yes! You and your bank will work to find a loan product tailored to your needs and circumstances, but there are six (6) qualifications that must first be met.
- Borrowers must be U.S. citizens or U.S. resident aliens.
- Land must be located on U.S. soil.
- Borrowers are typically required to have credit scores greater than 680.
- Borrowers are typically required to provide at least a 30% down payment.
- Eligible farm or ranch real estate loans must be secured by a first lien on land that is used for the production of agricultural commodities or products.
- Properties of less than 5 acres must have annual farm receipts of $5,000 or more.
Can I use my land as collateral?
Yes! In fact, it’s a must because everything we do is rooted in the land! A Farmer Mac loan is secured by a first lien on your farm land, ranch land and/or the buildings on the land. We are not able to provide financing that is secured by other kinds of collateral, such as machinery, animals or crop inventories.
I own farmland but do not farm. Am I still eligible?
Yes. Schedule F income is not a requirement.
Still have questions?
Contact one of our relationship managers using the icons below and we can explain how using a Farmer Mac approved lender can help you start saving!