Iowa FSA Service Centers
Iowa has 23 USDA Farm Service Agency county offices. Call your local office to start a Direct Farm Loan application — processing times average 60 days for Direct loans and 30 days for Guaranteed loans.
The IADA Beginning Farmer Loan Program offers below-market rates to Iowa farmers in their first 10 years of farming. Loans can be used to purchase agricultural land, equipment, or livestock. The program is administered through participating local lenders. Apply at iowafinanceauthority.gov →
Best Farm Lenders for Iowa Farmers
Rates current as of May 2026. Lender availability confirmed for Iowa.
Farm Lenders — Iowa
5 lenders · Sorted by editorial rating| # | Lender | Loan Type | Rate Range | Max Loan | Iowa Presence | |
|---|---|---|---|---|---|---|
| 1 |
Farm Credit Services of America
4.8 ★ · Best for Iowa land loans
|
Land, Operating, Equipment | 5.85%–9.25% | $50M+ | ✓ Iowa | Apply → |
| 2 |
National Funding
4.6 ★ · Best for working capital
|
Operating, Equipment | 7.00%–24.00% | $500,000 | ✓ Iowa | Apply → |
| 3 |
Fora Financial
4.4 ★ · Fast funding for operations
|
Operating, Equipment | 7.00%–35.00% | $1,500,000 | ✓ Iowa | Apply → |
| 4 |
Lendio
4.3 ★ · Marketplace — compare multiple lenders
|
Operating, Equipment, Land | Varies | $5,000,000 | ✓ Iowa | Apply → |
| — |
USDA FSA Direct Loans
Government program · No affiliate relationship with USDA
|
Land, Operating, Emergency | 4.75%–5.50% | $600,000 | 23 IA Offices | Learn More → |
Iowa Farmland Loan Market: What to Know in 2026
Iowa farmland values surged through 2022–2024 and have stabilized heading into 2026, with average per-acre values hovering around $8,200 statewide. Prime central Iowa corn ground in counties like Boone, Story, and Hamilton commands $12,000–$16,000 per acre, which significantly affects how much equity you can use as collateral — and which lenders will finance the purchase.
Farm Credit Services of America is the dominant ag lender in Iowa, holding a large share of farmland mortgages due to their competitive long-term fixed rates and deep agricultural expertise in the state. For beginning farmers, the combination of an IADA Beginning Farmer loan and an FSA Guaranteed loan can cover most of a land purchase while keeping payments manageable.
Iowa-Specific Underwriting Considerations
Iowa lenders typically underwrite farmland loans at 70–80% LTV for raw cropland and 65–75% for mixed crop/pasture. Corn Suitability Rating (CSR2) scores above 80 generally qualify for the best commercial rates. If your ground scores below 65, expect tighter LTV caps and higher rates from commercial lenders — though FSA Direct loans are more flexible on this front.
Iowa Farm Loan Application Checklist
Gather these documents before contacting lenders to speed up the underwriting process.
- 3 years federal tax returns (Schedule F for farm income)
- Current balance sheet (assets, liabilities, net worth)
- Current year cash flow projection (crop insurance documentation helpful)
- Legal description and most recent appraisal of property (if land purchase)
- FSA farm records (farm number, crop history) — available from your county FSA office
- Government-issued ID and Social Security number for credit pull
- Existing loan statements (machinery notes, operating lines, land mortgages)