Finance
Iowa's agricultural lenders sometimes use which type of specialized loan for intermediate-term farm equipment and operating expenses?
AFHA loan
BFSA operating loan✓ Correct
CConventional residential mortgage
DUSDA Section 504 loan
Explanation
The USDA Farm Service Agency (FSA) offers operating loans for farmers to cover intermediate-term needs like equipment, livestock, and farm operating expenses—commonly used by Iowa farmers.
People Also Study
Related Iowa Questions
- An Iowa buyer purchases farmland using an FSA (Farm Service Agency) loan. What agency administers FSA loans?Finance
- Iowa's Farm Service Agency (FSA) loan programs are designed to help:Finance
- In Iowa, which security instrument is most commonly used to secure a mortgage loan?Finance
- An Iowa apartment building produces monthly gross rents of $8,400. Operating expenses run 35% of gross income. The cap rate for this type of property is 7%. What is the estimated value?Real Estate Math
- In Iowa, the instrument most commonly used to transfer title of real property is a:Escrow & Title
- When does an agency relationship most commonly terminate in Iowa?Agency
- An Iowa buyer obtains a VA loan. Which of the following is TRUE about VA loans?Finance
- An Iowa buyer's agent who helps the buyer draft an offer is performing which type of service?Agency
Key Terms to Know
Adjustable-Rate Mortgage (ARM)
A mortgage with an interest rate that changes periodically based on a financial index, usually after an initial fixed-rate period.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Private Mortgage Insurance (PMI)Insurance required by lenders on conventional loans with less than 20% down payment, protecting the lender — not the borrower — against default.
AmortizationThe gradual repayment of a loan through scheduled periodic payments that cover both principal and interest.
Study This Topic
Practice More Iowa Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Iowa Quiz →