If you have been using NYFC’s Finding Farmland site, get ready for a big upgrade to our Land Affordability Calculator. And if you haven’t—try out the new version now!
A decision-making tool designed specifically for farmers seeking land, the Finding Farmland Calculator makes it easy for farmers to understand and compare farm financing options, determine what they can afford, and prepare to work with a loan officer. Since our beta release in October, we have consulted dozens of farmers and service providers to identify improvements to the calculator. We are excited to now release the new-and-improved version.
The calculator allows you to build your own land purchase scenarios using conventional financing options, like bank loans, or with other farmland access strategies, such as conservation easements and lease-to-own deals. Compare financing options to determine how best to afford farmland, or stack up one property against another. Once you build a scenario, enter some financial information to determine how affordable the property is for you and your business. Download your results to compare scenarios and share them with mentors and lenders. NYFC does not save any financial information entered into the tool.
We intend the Finding Farmland Calculator to serve you at any point in your search for land. If you’re just getting started, the site will introduce you to financial terms and options you should be familiar with. For those in the midst of a land search, rely on the calculator as a decision-making tool, helping you keep your property and financing options organized for easy comparison. Think of it as your own, personal loan officer.
We encourage agriculture educators to use theFinding Farmland Calculator, and the other educational tools found on the Finding Farmland site, in their business planning programs. More educational resources for land-seekers or service providers, and help documents for the calculator, are available at our Land Affordability Calculator resources page.
Don’t forget to rate the tool to let us know what you think, and sign up for NYFC’s email list to receive updates on our work! Contact findingfarmland@youngfarmers.org with any questions or suggestions.