Show Loan Funds Available Douglas T T. Simpson state director director director di di- rector for the Farmers Home Administration in Utah said he had received word from Washington Washington Washington Wash Wash- ington that this agency had received received received re re- re- re authority to insure an additional additional additional ad ad- million of rural loans This action announced in Washington by Secretary of Agriculture Agriculture Agriculture Ag Ag- Orville L. L Freeman will enable USDA's Farmers Home Administration to commit an additional additional additional ad ad- 30 million in farm ownership ownership ownership own own- loans and million in rural housing loans to low and moderate income families Previous allocations of funds for farm ownership loans were exhausted in February There are some applications and loan dockets currently being held by the Farmers Home Administration Funds for rural housing loans to low and moderate income families families families fam fam- were exhausted in April The Farmers Home Administration tion is now holding some applications and loan dockets for rural housing loans Both the funds for farm ownership ownership ownership own own- and rural housing loans are being made available im- im im im- mediately Farm ownership loans are made to buy land construct or repair buildings improve land and refinance debts They are repayable over 40 years and bear five per cent interest Rural housing loans are made to farmers and other rural residents residents resi resi- dents in open country and small rural communities with populations populations tio of not more than The loans are made to construct and repair needed homes and essential essential essential essen essen- farm buildings purchase homes or buy sites on which to build homes The maximum term is 33 years The interest rate on loans to families with low income and moderate income in- in income income in in- come is five per cent I Farmers Home Administration services are made available through more than 1600 county offices serving the rural counties in the United States Puerto Rico and the Virgin Virg n Is Is- lands |