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Jan 23, 2002

D.F.C. shifts housing emphasis to low income

Middle income families who have traditionally turned to the Development Finance Corporation for reasonably priced housing loans will soon be asked to look elsewhere. That’s the word from Cabinet, which has directed the D.F.C. to turn its attention to low income customers. The government owned corporation will now accept housing loan applications for a maximum of thirty-five thousand dollars. Larger loans will be handled by the commercial banks, who, thanks to new regulations, are able to offer interest rates comparable to D.F.C. Viewers should note that housing loans over thirty-five thousand dollars already approved by D.F.C. will still be honoured.

Viewers please note: This Internet newscast is a verbatim transcript of our evening television newscast. Where speakers use Kriol, we attempt to faithfully reproduce the quotes using a standard spelling system.

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