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Area FHA Loans
Near Half-Million
The Farmers Home Adminis tration of the U.S. Department of Agriculture loaned farm families and other rural people ir Culpeper, Orange, Madison Greene, Fairfax, Fauquier Prince William, Stafford and Rappahannock Counties a record total of $473,630 in fiscal 1962 which ended on June 30. Stuart H. Barrell, County Supervisor, announced today.
The volume of loans in this area, largest during any 12month period in the local office’s history, was 34% larger than the 1961 total of $312,729 and 44% above the $264,070 loaned in 1960.
Nearly one-half of the total loaned during fiscal 1962 went for farm operating expenses which includes livestock and equipment, almost one-half for the purchase, development or enlargement ~f family farms and about one tenth went for the construction ami improvement of houses and service buildings on farms and in rural communities.
Three recent improvements more adequately equipped the Farmers Home Administration to meet farm credit needs in ’62 according to Mr. Barrell. A pos
82.4%