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Show Farm Housing Loans Available To Eligible Fanners Clarence A. Anderson, state di. rector of the Farmers Home Administration Ad-ministration in Utah, announced today that eligible farmers may obtain farm housing loans' from the agency. Funds for the loans were recently made available by a supplemental appropriation. Applications for these loans may be made immediately at any of the county offices of the Farmers Home Administration In Utah, Mr. Anderson said. Regulations for processing the loans have been distributed to all field offices. of-fices. The Joans may be made for tne construction and repair of farm homes and other farm buildings, Including farmstead water sup-plies. sup-plies. . . Interest on the loans will be four per vnt per year on the un-paid un-paid principal. Repayment will be scheduled over periods up to 33 year The loans will be secured se-cured bv a mortgage on the borrower's bor-rower's farm. Applicants wlU be expected to obtain the building ' plans and specifications for the Improvements Improve-ments to be financed with the farm housing loan. The Farmers Home Administration will review the plans and Inspect the construction con-struction as it progresses to assist as-sist the borrower In obtaining construction that meets generally general-ly accepted standards of soundness. sound-ness. The eligibility of applicants will be determined by the Jocal county committee of the Farmers Farm-ers Home Administration. To be eligible an applicant must be the owner of a farm, be unable to obtain suitable credit for dwellings and other buildings from other lenders, and have enough Income from the farm or from the farm and other sources to rneet family living and farm operating expenses and repay the debts. |