OCR Text |
Show chase price of a farm and allow up to 40 years for repayment. They bear interest at 3 percent on the unpaid balance. Applicants must find for themselves .the farms they wish to purchase. Each farm is appraised, ap-praised, and a loan is made only when the purchase price is in line with the farm's actual value, based on its long range earning capacity. Farm Loans for Returning Service Men The Farm Security Administration Administra-tion has been authorized by Congress Con-gress to lend $25 million in the next 12 months to returning service ser-vice men who want to buy family size farms, and will start making these earmarked loans on July 2, j through m,ore than 2,000 county offices. Part of an additional $25 million, not restricted for the use of veterans, also may be used to make loans to discharged service men. The loans made under terms of the Bankhead-Jones Farm Tenant Act of 1937, can cover the full pur- |