Farm Credit has a loan program aimed at introductory farmers, the YBS (youth/beginning/small )program. Did they mention anything about that?
@MissIntent Yes. Northwest Farm credit works with FSA essentially. The gal who helped with all the paperwork was great. Like I said property in now under contract with someone else. What we would of pulled off the property hay wise plus our calf crop would of payed for the land payment. Doesn’t matter now since it’s sold. The only other suitable land is 300k in purchase price. We just aren’t comfortable with that.
All we can hope for is the market to calm down (pipe dreams) or older ranchers to retire.
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Quick update.
First contract fell through. We got the backup offer. We were working with FSA/half our bank.
The FSA loan officer said that we wouldn’t make enough off the hay to pay the land payment//they also tried to tell us a ton of alfalfa grass mix sells for 100 a ton. Also a complete joke. Hay hasn’t been selling for under 160 a ton since I lived here (5 years) and it’s gone up to 200-280.
We are appealing. We are also listing our house. Worse case scenario we put that 40% cash down. We just don’t have that money until we sell the house.
