What is ‘Farmers Home Administration – FmHA’
A USDA entity established to assist farmers and rural families by funding and guaranteeing loans for housing and other farming-related needs. Farmers Home Administration (FmHA) offers financing and technical help to rural individuals and communities via four key programs: housing, utilities, business, and community development. The organization operates around 1,900 county and district loan offices throughout the country.
Explaining ‘Farmers Home Administration – FmHA’
During the Great Depression, the organization was established to offer families with financial resources such as loans and grants to assist them in re-establishing self-sufficient farming operations in the aftermath of the disaster. It was initially known as the Resettlement Administration, but it has gone by several different names over the years, including Farm Security Administration, Farmers Home Administration, and most recently, Rural Economic and Community Development Service.
‘Farmers Home Administration – FmHA’ FAQ
Is Farmers Home Administration the same as FHA?
The Federal Housing Administration (FmHA) established a legacy of insuring house loans for rural properties, which is carried on today by the United States Department of Agriculture. The USDA Home Loan qualification standards are comparable to those for an FHA lending, although they are often far more relaxed and forgiving than those for conventional loan programs.
Is Farmers Home Administration and USDA the same?
Following the Great Depression, the Farmers Home Administration (FmHA) was established by the federal government to assist in the distribution of loans to farmers and rural areas. USDA Rural Development is the name that has been given to it now. The FmHA was discontinued in October 1994, and its activities were transferred to another organization within the United States Department of Agriculture.
Further Reading
- The farmers home administration and farm debt failure prediction – www.sciencedirect.com [PDF]
- Modeling farm debt failure: The Farmers Home Administration. – elibrary.ru [PDF]
- Needed Changes in the Farmers Home Administration Lending Programs – www.jstor.org [PDF]
- Financial stress in agriculture: Implications for agricultural lenders – www.jstor.org [PDF]
- The Farmers Home Administration’s changing role and mission – agris.fao.org [PDF]
- Moral hazard in federal farm lending – www.jstor.org [PDF]
- Policy convergence and policy feedback: Agricultural finance policies in a globalizing era – ejpr.onlinelibrary.wiley.com [PDF]
