Trust Financial now has the ability to make FSA (Farm Service Agency) guaranteed loans to our customers. As the principal Texas agent for American Farm Mortgage Company, an FSA “Preferred Lender” in the state of Texas, we now offer funds that can be used to purchase agricultural real estate, make improvements to loan collateral, or restructure debt.
To qualify for an FSA Guaranteed Loan, the applicant(s) must:
- Be a citizen of the United States, or a legal resident alien
- Have an acceptable credit history
- Be unable to obtain the loan without a guarantee
- Not have caused FSA a loss by receiving debt forgiveness on more than 3 occasions
- Not be delinquent on any debt
- Have the necessary equity, liquidity, and ability to repay the loan
- Provide sufficient security for the loan – 70% maximum financing – new purchases require 30% downpayment or including additional free-and-clear collateral
A loan with an FSA guarantee offers flexible payment terms, fixed and variable rate options, and amortizations up to 30 years. If you feel an FSA Guaranteed loan would benefit you, please fill out our brief online inquiry form.