North Dakota Beginning Farmer Real Estate Loan Program
The Beginning Farmer Real Estate Loan Program assists farmers and ranchers in the purchase of farm real estate. Each qualified applicant is eligible for a $500,000 loan. The interest rate is fixed at 1% below the Bank of North Dakota's (BND) current base rate with a maximum of 6% per year for the first five years of the loan. For the second five years of the loan, interest is variable at 1% below BND's then current base rate adjusted annually on the anniversary date. For the remaining period of a loan, interest is variable and adjusted equal to BND’s base rate. The term of a loan may not exceed 30 years. Annual amortized payments are required. Maximum net worth is $750,000.
State Beginning Farmer Loan Programs