FSA (Farm Service Agency) loans:
Correct Answer
B) Provide financing for agricultural land purchases for beginning and small farmers
FSA offers direct and guaranteed farm loans for land purchases, especially for beginning farmers. Important in agricultural Nebraska where farmland is the most common real estate asset.
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Related Topics & Key Terms
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Related Concepts
RESPA is a federal law that requires lenders to provide borrowers with information about settlement costs, prohibits kickbacks and referral fees, and limits escrow account deposits. It applies to federally related mortgage loans.
The secondary mortgage market is where existing mortgage loans are bought and sold between lenders, investors, and government-sponsored enterprises (GSEs) like Fannie Mae, Freddie Mac, and Ginnie Mae.
TILA is a federal law that requires lenders to disclose the true cost of credit to borrowers, including the annual percentage rate (APR), total finance charges, and loan terms. It is implemented by Regulation Z.
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