Finance
A North Dakota farmer wishes to purchase additional cropland. Which loan program is specifically designed for agricultural lending?
AFHA Section 203(b)
BFarm Service Agency (FSA) Farm Loan Program✓ Correct
CVA home loan
DUSDA Section 8 loan
Explanation
The USDA Farm Service Agency (FSA) offers farm loan programs specifically designed to help agricultural producers, including those in North Dakota, purchase farmland and finance agricultural operations.
Related North Dakota Finance Questions
- What is the purpose of an escrow account (impound account) held by a mortgage lender?
- What is the purpose of private mortgage insurance (PMI) in North Dakota conventional loans?
- Which of the following best describes the secondary mortgage market?
- A North Dakota lender charges 2 discount points on a $200,000 loan. The cost of the points is:
- A North Dakota borrower who takes a 'cash-out refinance' is:
- A North Dakota homebuyer using a conventional loan at 80% LTV avoids PMI. What does this cost them at purchase if the home costs $320,000?
- A North Dakota borrower who is 'underwater' on their mortgage means:
- A North Dakota borrower's 'PMI cancellation rights' under the Homeowners Protection Act allow them to request PMI cancellation when:
Practice More North Dakota Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free North Dakota Quiz →