GroundRules
7 CFR 764.203: Limitations.
Where this section sits in the code
- Title 7—Agriculture
- Subtitle B—Regulations of the Department of Agriculture
- CHAPTER VII—FARM SERVICE AGENCY, DEPARTMENT OF AGRICULTURE
- SUBCHAPTER D—SPECIAL PROGRAMS
- PART 764—DIRECT LOAN MAKING
- Subpart E—Downpayment Loan Program
(a) The applicant must:
(1) Comply with the general limitations established at § 764.102; and
(2) Provide a minimum down payment of 5 percent of the purchase price of the farm.
(b) Down payment loans will not exceed 45 percent of the lesser of:
(1) The purchase price,
(2) The appraised value of the farm to be acquired, or
(3) $667,000; subject to the direct FO dollar limit specified in 7 CFR 761.8(a)(1)(i).
(c) Down payment loans made as an ML for FO purposes may not exceed $50,000.
(d) Financing provided by the Agency and all other creditors must not exceed 95 percent of the purchase price. Financing provided by eligible lenders may be guaranteed by the Agency under part 762 of this chapter.
Collected 2026-08-27T02:24:01Z. Source file · JSON