Definition: The word "department of agriculture mortgage" refers to a specific type of housing loan or mortgage, usually used for agricultural properties in the United States. This type of mortgage allows farmers and landowners to borrow money to purchase farm or ranch property. Agricultural mortgages are typically for small to medium-sized farms or ranches that specialize in growing certain crops such as corn, beans, soybeans, wheat, etc. The amount of the mortgage is typically based on the value of the property being financed, with many farmers financing a portion of the cost themselves or using it as an investment. The term "department of agriculture" refers to the agricultural extension services provided by USDA (U.S. Department of Agriculture) in the United States. This includes programs such as conservation, research, education, and economic development that aim to improve food security and sustainability for farmers across the country. In summary, a "department of agriculture mortgage" is a type of housing loan or mortgage specifically designed for agricultural purposes. It involves financing farm or ranch property with the intention of improving crop yields and overall profitability of the land. USDA provides these loans through the Agricultural Extension Service (AES).
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