{"id":854,"date":"2020-07-22T06:37:48","date_gmt":"2020-07-22T06:37:48","guid":{"rendered":"http:\/\/agricultureloan.com\/?p=854"},"modified":"2023-01-31T04:52:49","modified_gmt":"2023-01-31T04:52:49","slug":"quick-guide-hobby-farm-loan","status":"publish","type":"post","link":"https:\/\/agricultureloan.com\/quick-guide-hobby-farm-loan\/","title":{"rendered":"A Quick Guide to the Hobby Farm Loan"},"content":{"rendered":"

Not all farms produce income. Today, many people want to start a farm just for fun, to grow their own food rather than buying it, or even to supplement their income. Whatever the reason, you may be eligible for a hobby farm loan. Keep reading to learn the tips and tricks to getting approved.<\/p>\n

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What is a Hobby Farmer?<\/h2>\n

First, let\u2019s look at the definition of a hobby farmer. If you farm, but you don\u2019t do it for a living, you may qualify. Hobby farmers have other occupations that don\u2019t coincide with farming. They use farming as their \u2018hobby\u2019 in their free time. Some hobby farmers do make a side income off their hobby farm, but they have other full-time employment to support them.<\/p>\n

What are Hobby Farms?<\/h2>\n

Hobby farms can have many different faces. Generally, they are between 40 and 100 acres and they use sustainable agricultural practices. Hobby farms still have business plans and a vision. They must also abide by all zoning laws and have a target market (if this is your intention). In short, they require as much work as commercial farms and could require as much capital.<\/p>\n

Qualifying for a Hobby Farm Loan<\/h2>\n

Hobby farm loans come from individual lenders rather than Fannie Mae, Freddie Mac, or the government. Each bank has its own requirements, but most banks operate under the Qualified Mortgage Guidelines, which means:<\/p>\n