The main purpose of the Farm Ownership Improvement Act is to help farmers and ranchers access direct farm ownership loans more easily. It aims to create a pilot program that allows for a pre-qualification or pre-approval process, which can streamline the loan application process and make it more accessible for those seeking financial support to own and operate farms. Key provisions of the Act include the establishment of a five-year pilot program that the Secretary of Agriculture must implement within two years of the law being enacted.