You can't buy a farm at auction with an FSA loan. The only way you could pull it off would be to get some one else to buy it and you buy it from them. I was approved for my farm on March 8th. Closing was November 7th!!!!! 100% at 5.25% for 40 years is a good deal, but you are going to have to do hours and hours of paper work. The folder they have on me is about 2 inches thick, bank statmets, tax form, forms from my town job, statments on every loan I have ever had, two credit reports, all my production records for the last 3 years, copys of my last 3 tobacco contracts, and alot more forms with my signature that I do not know what are! You will have to let them put a lein on every thing you own. If I could swing a regular bank loan I would. If I buy any iron what so ever I have to give them all the info about it and they have a lein on it, for 40 years. The best thing I can tell you is if you want some ground and have to get a FSA loan, get your brother or some one to buy it and then sell it to you when the money comes. Best of luck.
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Today's Featured Article - Women and Tractors - More Views From the Farmer's Wife - by Teri Burkholder. The top ten reasons why the judges wouldn't let you participate in the stock antique tractor pull: Hey, this is stock! It came with that V8 in it! That "R" on my tires stands for "really old" not radial! Blue gas? We thought it was a pretty color! What wire hooked to my throttle?
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