Show Home repair and construction can get 4 percent up to 33 years The construction and repair of farm houses and other farm may be financed by Farmers Home Administration Jay S the agency's local county Supervisor said this He said the same kind of loan program is available as last year when American farm borrowed to improve or repair farm houses and Other essential farm or to provide water for farmstead or household FARMERS HOME Administration loans are provided only when a bank or other lender cannot adequately serve the farm owner's needs at the present The does not compete with conventional or cooperative Mr Fitzgerald bul does supplement the credit services supplied by other sources Borrowers agree to repay the housing loans within the short-esl time consistent with their I repayment but no loan schedule ran go beyond 88 years The interest rate is 4 percent Although housing loans go only to farm an owner may borrow to repair or build a house or other farm buildings for his tenants or farm A borrower must be an American Any farm must be bier enough and operated in such a way as to be considered an actual and must produce a part of the operator's annual cash Farmers use farm housing loans to buy land or refinance MR cautioned I tin applicants against starting construction work or incurring debts for work or materials before their loans are if they expect to obtain their financing through the Farmers Home Farmers buy their building materials wherever the usually from local They obtain their building plans from any reliable source they The Home Administration has a limited number of plans that applicants may If they want During 1 the local agency makes periodic inspections to make certain that sound construction standards are |