OCR Text |
Show FmHA makes exception x will continue home loans in local area Secretary of Agriculture John R. Block annouced that the Department's housing assistance program WILL continue con-tinue to be available in rural areas of 10,000 to 20,000 population. This authority authori-ty was due to expire on March 31. Normally, the Farmers Home Administration Ad-ministration (FmHA) which administers ad-ministers USDA housing assistance programs, is limited to serving aro up to 10,000 people. An exceDtin!? made when the Secretari " Agriculture and Housing and Urh Devplopment agree that there serious shortage of mortgage crh ' the higher populated areas n assistance is then available in , designated rural areas as longastu are no located in a Standard Metropolitan Statistical Area (SMsa, The Farmers Home Administer provides housing loan assistance tn pie in rural areas who are in need j cent, safe and sanitary housing b, 1 1 not qualify for private credit V , family housing loans are available people of low or moderate-income ? reduced interest rate. The current terest rate for moderate-income rowers is 13.25 percent. FmHA loans are also available t, multi-family housing development I help hold down rental costs for low come people, the handicapped a!i senior citizens. m 0 |