"The Montana Beginning Farm/Ranch Loan Program is a tax-exempt bond program designed to assist beginning farmers and ranchers in the state to acquire agricultural property at lower interest rates."
"Eligible applicants must have a net worth of $477,000 or less, and not have previously owned any substantial amount of farm/ranch land. Program funds may be used to purchase agricultural land, agricultural improvements, and depreciable agricultural property. Property may be purchased from relatives only through third-party lenders."
"The loan maximums are $477,000 for agricultural land and improvements. Of the possible $477,000, no more than $125,000 can be for depreciable agricultural property, of which no more than $62,500 can be for "used" property."