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Farm-Mortgage Loans of the Federal Land Banks

Author

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  • Bierman, Russell W.
  • Case, Betty A.

Abstract

Report Introduction: The cooperative Federal land bank system has offered farm-mortgage loans to farmers since 1917. Land banks now hold more than one-sixth of the total farm-mortgage debt outstanding. The major objective of the land bank system is to provide farmers with an adequate dependable source of farm real estate credit at all times from funds obtained chiefly from sales of bonds in investment markets. Land bank loans are available in all States. These loans have several features that borrowers have always found attractive. These features include full amortization, interest rates which in most areas are usually lower than those charged by other lenders, and the option of advance repayment without penalty. The purpose of the study reported here is to show the relative importance of Federal land bank lending in the 1950-57 period, the characteristics of loans made in this period, and the characteristics of land bank loans outstanding on June 30, 1956. The data used are from the regular statistics of the Farm Credit Administration and the Farm Economics Research Division, Agricultural Research Service, and from a special survey of land bank loans. The survey obtained data on approximately 10 percent of all land bank loans outstanding on June 30, 1956.

Suggested Citation

  • Bierman, Russell W. & Case, Betty A., 1958. "Farm-Mortgage Loans of the Federal Land Banks," Miscellaneous Publications 391358, United States Department of Agriculture, Economic Research Service.
    • Handle: RePEc:ags:uersmp:391358
    DOI: 10.22004/ag.econ.391358
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