WASHINGTON, D.C. (WVND)– Recently, Senators Jim Justice, Peter Welch (D-VT), Cindy Hyde-Smith (R-MS), and Adam Schiff (D-CA) introduced the Fostering the Availability in Rural Markets of (FARM) Home Loans Act of 2026. This legislation would modernize housing assistance eligibility requirements and help nearly 30 million homebuyers access rural housing assistance for the first time.
“I’m so proud to be working on the FARM Home Loans Act, which helps rural communities gain greater access to home loans. All over rural America, folks just want to own a home, raise their families, and build something that lasts. This bill helps increase competition for credit and opens that door for over 230,000 West Virginians to do just that. The Farm Credit System is ingrained in our farming communities and has a big role to play in continuing to create opportunities for the next generation in rural America,” said Senator Jim Justice.
“We’re in the midst of an affordable housing crisis, and Vermonters are amongst the hardest hit. Making farm credit loans more accessible is vital to addressing this crisis and will help millions of rural families experience the joy of homeownership for the first time,” said Senator Welch. “Congress must pass our bipartisan legislation to expand rural housing assistance and make homeownership a reality for rural communities in Vermont, West Virginia, and across America.”
“It is too hard for too many people to land a home mortgage by coming up with traditional down payments, especially in rural communities. The FARM Home Loans Act would change that by allowing the Farm Credit System to broaden the use of its flexible lending assistance to help qualify tens of thousands of rural families and individuals in Mississippi for homeownership,” said Senator Hyde-Smith. “I support this bipartisan effort to bring outdated population eligibility limits into the 21st century.”
“Our country is facing a severe housing crisis, and it’s time for Congress to act. I’m proud to join Senators Welch and Justice to introduce this bipartisan legislation to help more rural communities obtain the financial support they need to buy a home,” said Senator Schiff.
“Senators Welch and Justice are leading the way to ensure rural home buyers have adequate credit choices. The Farm Credit Council thanks these Senators for their commitment and leadership on this issue. Too often, families struggle to find a lender willing to finance a home in rural areas because of the unique qualities of rural properties,” said Christy Seyfert, President and CEO, Farm Credit Council. “The FARM Home Loans Act will allow Farm Credit to serve homebuyers in communities up to 10,000 people, improving access to mortgage credit in rural America. Farm Credit is committed to the continued vitality of rural communities, and we appreciate the Senators for introducing this bill to help more families put down roots in rural America.”
BACKGROUND:
- The FARM Home Loans Act would modernize the Farm Credit System’s housing assistance eligibility requirements to help 38% of the U.S. population—nearly 30 million homebuyers—access rural housing assistance from Farm Credit for the first time.
- For West Virginians, this would mean over 230,000 homebuyers would be newly eligible to apply for rural home loans.
- U.S. Representatives Kristen McDonald Rivet (D-MI-08) and Bill Huizenga (R-MI-04) introduced companion legislation in the House of Representatives.
- The FARM Home Loans Act is supported by the American Farm Bureau Federation, Farm Credit Council, Housing Assistance Council, National Cooperative Business Association (NCBA-CLUSA), National Council of Farmer Cooperatives, and National Farmers Union.
- Read the full text of the bill.
