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long-term bousing loan provided that he meets other standard eligi- ; bility requirements. *
Formerly, an eligible applicant had to own a farm that produced a more substantial part of the operator's annual cash income.
Borrowers may use loan funds to build, improve or repair farm houses or other essential farm buildings, and to provide water for farmstead and household use, Mr. Hawks said that in. addition to financing major construction, the loan funds can help meet many other needs for farm and farm home modernization such as adding bathrooms, utility rooms, better kitchens, and many other improvements to the home as well as to farm service buildings. While tenants, and farm laborers are not eligible, the owner may borrow to do construction work or make improvements for them. ,Thc loans are made to farm ^ owners who need credit to finance' huilding improvements or repairs, but find that adequate credit is not available through banks orother regular credit channels. The interest rate is 4 percent and loans may be amortized over periods up to 33 years.
The • Farmers Homc Administration office serving the county of Rappahannock is located at 505 N. * Main Street, Culpepr, Virginia.
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