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Show Rural Housing Loans Now Available to More Ufahns Many additional families in Utah are now eligible for rural housing loans from the Farmers Home Administration, Administra-tion, FHA County Supervisor L. Berkeley Graham announced announ-ced recently. "In families where both husband and wife are employed," em-ployed," Mr. Graham explained, ex-plained, "the new policy permits per-mits half of the wife's gross income to be excluded in de. termining whether the total family income is within the maximum for loan eligibility." eligibil-ity." For example, the husband is the principal source of income in-come with $6,500. His wife earns $4,000. His entire income, in-come, plus half of his wife's or $2,000, total $8,500. This is within Utah's moderate income level of $8,500 so the family may be eligible for a Farmers Home Administra. tion loan. James V. Smith, National Administrator for Farmers Home Administration, emphasized em-phasized that newly-eligible families must demonstrate that the otherwise merit FHA financing, and that credit cre-dit is not available from e-gular e-gular commercial sources. "The new policy will assist families in which the wife's income is needed to improve the standard of living. Note that if the wife is the principal prin-cipal breadwinner, the rule does not apply. This change will in no way affect our expanding ex-panding service to low-income families," Mr. Smith said. 1 Loans may be made to families fa-milies that will buy or build homes in open country or towns of up to 10,000 population, popula-tion, and who are not able to secure credit from regular commercial sources. Complete Com-plete information is available avail-able from the agency's county coun-ty office at Center and Main Street in Monticello. ' |