A bill to require the Secretary of Agriculture to carry out all rural housing programs of the Farmers Home Administration.

Requires the Secretary of Agriculture to use the Rural Housing Insurance Fund for the purpose of making loans for housing and buildings on farms in the amounts specified in appropriation acts for such purpose. Provides that 60 percent of such funds shall be used to grant low interest rate loans to low and moderate income persons and families. (Amends 42 U.S.C. 1487(c))