Kirk and Tina Sczepanik had a dream. They wanted a spread of their own. But with the rise cost of land and the demands of raising three immature children, the possibility of realizing their dreaming often seemed remote.
Kirk, 29, grew up on a ranch. He earned a grade in Agriculture, and now works for a building company. Tina learns Spanish at their local high school in South Texas. From the clip they got married, they had their oculus out for available ranchland. They investigated financing, and they learned they would need a down payment of at least 10 percent.
Most country banks required twenty percent. On top of the purchase price, they would need to finance any improvements, equipment, and livestock. If the property they selected didn't have got a home already built on it, they would need to finance building of a house. Despite the evident obstacles, they never gave up hope.
Tina spent calendar months researching on the Internet. She followed up on every lead for spreads and financing. Finally, she came across a mention to a programme of the U.S. Department of Agriculture, through the Farm Service Agency. The program, called the Direct Farm Ownership Program, is designed to back up and encourage people just like the Sczepaniks to settle down in rural countries and either farm or ranch, or both.
Immediately, Tina contacted FSA and they completed an application. In order to measure up for the funding, they first had to be rejected by conventional funders.That portion was easy. Tina simply explained her need to local banks, and they wrote her somes missive verifying she would not measure up under their guidelines.
Although the programme is available to all Americans, there is a set-aside of finances earmarked especially for minority applicants. Because Tina is Hispanic, they qualified under the set-aside, and were approved in the summertime of 2003. With a warrant of funding, they began looking in earnest for the spread of their dreams. Through one of those shots of perfect timing, they learned from friends of a spread that was soon going to be set up for sale, but had not yet been listed.
The spread was 140 acres, and included a framework house. The house had been built in the 1930’s, then added onto twice. It had fallen into some disrepair, but it was in good adequate status to rate renovation. Three middle-aged siblings had inherited the property upon the deaths of their parents. None of them lived close adequate to the spread to desire to maintain it, but they had grown up there, and they wanted it to travel into the custody of a family. They quickly accepted Kirk and Tina's offer.
Working closely with helpful staff officers at the Farm Service Agency, Tina and Kirk structured their funding into two loans. They used the acquisition loan to purchase the property and finance a part of the repairs on the house. That loan had a term of 40 years, at an interest rate of 3.75%. They also took out an operational loan for seven old age at 5.25%. The second loan financed the residual of the redevelopment of the house, as well as fencing repair and the purchase of cattle and equipment. No down payment was required for either loan, although the couple did set down some earnest money and paid a part of the cost of the survey.
When they closed on the property, the existent work began. They made the money stretch by doing a significant part of the repairs on the house themselves. Kirk’s building skills, and his human relationship with vendors, were a definite benefit. Everyone in the family, including the children, helped with the renovations. Tina sums of money it up, “Essentially, we just gutted the house and rebuilt it from the he-men out.”
That work took respective months, but finally, in September 2004, the household moved into their new home. For all three children, life on a spread is a fantastic adventure. They have got room to roam, and chances to do a existent part to the household as they assist their parents set things in order.
Joseph, now 12, is working on business ideas of his own. He bes after to take part in a immature person business chance programme of FSA, which allows young people from ages 10 to 20 to borrow up to $5,000 to begin a business. And Tina’s male parent have taken duty for one field, where he have already planted a large garden to maintain the household in vegetables. Tina laughs, “He’s out there all the clip on the old tractor that came with the house. He’s having so much fun.”
Meanwhile, Kirk have rebuilt some of the fencings on the property, and have moved his three horses into their new home. His pridefulness in their ranch, and in his wife, is apparent as he speaks about their new life. “You know, I’m the 1 who cognizes about ranching, and cattle and horses. We can do this a fantastic place. But it never would have got happened if Tina hadn’t been so determined, and gone out and establish this program.”
2004 (c) Jillian Coleman Wheeler
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