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FHA Housing Loans l
At Record Level
I he local Farmers Homei Administration office made a record high number of rural housing loans for fiscal year 1968. Fifty-eight housing loans were approved from July 1, 1967 to June 30, 1968. !
Itie largest number of loans; and amount of money approved was for Culpeper County with 30i loans totalling $329,640. Madison’ County was second with 12 loans for $14 2,500, followed by Fauquier with 11 for $145,170, then Orange with three for $32,960 and Rappahannock with two for $23,500.
The total amount of funds loaned for housing was $673,770, with loans ranging from $1000 to $19,500. Of the $673,770 only $2000 was from direct Government funds. The remaining $671,770 was put up by private investor® and insured by the U.S.A.
Of the 58 loans approved, 36 were for new construction or repair and 22 for purchase of previously occupied dwellings.
More important than the number erf loans and amount of money is the number of rural people served. The total number of people served was 247 with the average of 4.25 persons per household. Family sizes ranged from 11 to 2 persons.
The Farmers Home Administration office located at 608 S. Main Street, Culpeper, serves Culpeper, Fauquier, Madison, Orange and Rappahannock Counties. The County Office is staffed by Joseph B. Keesee, County Supervisor and Miss Alice E. Yancey, County Office Clerk.
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