It contributes to rural revitalization strategy by improving the financial services, especially promoting farmland mortgage loans actively and steadily that deepen the organic connection between rural land assets and financial resources continuously. An in-depth exploration into farmers’ interpersonal financial literacy acquisition circle sources and the land loss risk perception factors has great significance to improve the system construction related to farmland mortgage loans. Firstly, this article theoretically explains the impact of financial literacy acquisition circles and land loss risk perception on farmers’ farmland mortgage loans participation, and then analyzes the mediating mechanism of farmers’ land loss risk perception. Secondly, the financial literacy acquisition circles are measured by factor analysis method, and four factors are extracted and defined as kinship circle, friends circle, neighborhood circle and institutional participation circle. Finally, Logit model and Bootstrap method are employed to empirically analyze the impact of financial literacy acquisition circles and land loss risk perception on farmers’ farmland mortgage loans participation and reveal the type and value of mediating effect of land loss risk perception, based on survey data collected from 1312 farm households from the pilot areas in Shaanxi, Ningxia and Shandong Provinces. The results show that financial literacy acquisition circles positively affect the farmers’ farmland mortgage loans participation significantly, in which the promotion of kinship circle is greater than institutional participation circle. Financial literacy acquisition circles negatively influence the farmers’ land loss risk perception, in which institutional participation circle has the greatest impact, kinship circle is next, and friends circle is the last. Land loss risk perception plays a negative role in the participation of farmland mortgage loans in all the four financial literacy acquisition circles. Land loss risk perception has a part mediating effects on the relationship between financial literacy acquisition circles and farmland mortgage loans participation with a size of 0.2112. Specially, with financial literacy acquisition institutional participation circle, farmers’ land loss risk perception exerts the greatest mediating effects with a size of 0.2231 partly. The next is land loss risk perception with kinship circle exerts part mediating effects, and the size is 0.1018. Farmers’ land loss risk perception does not exist mediating effect with the neighborhood circle. However, land loss risk perception with friends circle plays suppressing effects, the size is 1.8511, indicating that there are other mediators with more effects. Therefore, this article puts forward the following policy recommendations: First, farmers need to build, maintain and develop a multidimensional financial literacy acquisition circles based on kinship circle and institutional participation circle, and enrich friends circle and neighborhood circle as the source of financial literacy acquisition. Secondly, farmers should optimize kinship circle by strengthening communication and enhancing trust, improve friends circle and neighborhood circle by enhancing mutual assistance and knowledge sharing, and financial institutions should improve farmers’ financial literacy by carrying out propaganda and strengthening contact. Thirdly, the government and financial institutions should pay more attention to the possible risks arising from the pilot loans, reduce farmers’ overestimation land loss risk, and accelerate the innovation of the farmland mortgage loans risk prevention mechanism.