Financing A Farm/Rental/Primary Residence

[Joe Edwards-Hoff]

So, I was looking at moving into a new primary residence. My current home was a duplex at one time and I was planning to keep it and rent it as one. I've got a few other real estate investments. Anyway, one house that my realtor showed my happens to be on 20 acres (I live in an agricultural town)  and it comes with 10 acres of cherries (which are currently being leased out to another farmer, so I don't have to work them.) And it also has a manufactured home and a small studio apartment on the property. 

So, I do not need these sources of income in order to afford the property, but I've been told that I may need a farm loan? I had been prepared to just get conventional financing. but if I need to  go another route, does anyone have any suggestions? I had also hoped to just do 5% down. We shall see. I have that on hand. Any more and then I'd have to get creative. 

[Martin Fletcher]

@Rommel Pascual I believe Farm Credit would do this type of loan.