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Show Housing Funds for Rural Families Now Available Through Farmers Home Admin. Farmers ilo-.no Administration is now accepting loan applications applica-tions from rural families who need to improve their housing, June S. Barron, the agency's supervisor sup-ervisor for Iron County, said today. to-day. Funds may be used to finance fi-nance homes, building sites and essential farm service buildings. Under the new program private capital will provide the bulk of the fund with the Farmers Home Administration making the loans and guaranteeing the repayments re-payments of principal and interest in-terest to the investors. Legislation Legisla-tion implementing the new insured in-sured loan program was contained con-tained in the Housing and Urban Ur-ban Development Act of 1965. The Act authorizes the Farmers Farm-ers Home Administration to Insure In-sure loans totaling $300 million each year for families in low or moderate Income levels. These loans will bear interest at brA . Additionally, loans bearing 57c Interest can be insured for families fam-ilies with Incomes above the moderate level. Mr. Barron said that loans are available to families living on farms and in rural areas including includ-ing towns of 5,500 population to construct, improve, or repair rural ru-ral home and related facilities, or farm service buildings, or to provide water for farmstead and household use. Families needing credit to improve im-prove their present housing may use loan funds to add bathrooms, bath-rooms, central heating, modern kitchens, and other home improvements, im-provements, nn well as to enlarge en-large or remodel farm service buildings and put in related facilities fa-cilities such as yard fences, sidewalks side-walks and driveways. A farmer may borrow funds to provide buildings for his use or for the use of his tenants and laborers. A rural resident may use loan funds to buy a previously prev-iously occupied house, or to buy a site on which to build his home, or to build or repair a home on land he owns. Insured rural housing loans are made to applicants who are unable to cttain the required credit from other sources. Further information on insured rural housing loans may be ob- : tained at the county office of the Farmers Home Administration lo- jcated in the Federal Building In Cedar City. |