Salt Lake Telegram | 1935-07-24 | Page 2 | Utah Leading in F H A Loans

UTAH LEADING IN FH F HA H A LOANS I Utah stands stands first among states in inthis inthis inthis this region in participation participation- in the federal housing program Franklin D. D Richards Utah F H A director I Iwas was informed from Washington D D. C C. Wednesday More than 1700 modernization loans totaling hav have be been n made in Utah and applications C for r t to build new new homes purchase old ones or oz refinance existing existing ex ex- mortgages have been accepted accept accept- ed for tor appraisal Mr Richards re re- re ported Almost half of these applications have been co consummated summated he added On the basis of relative population population I tion this housing activity in Utah I places the state ahead of Kansas Nebraska Colorado and Wyoming the other states in this F H A re region region rea re- gion Mr Ir Richards said Kansas is in first place on a. a dollar dol dol- do- do lar volume basis with Utah second Liberalization of ot F H A rules Is increasing interest in the program Mr Richards pointed out One important important important im im- im- im change is that prospective borrowers no longer need to be property owners to seek a a. loan Another Another An An- Another An- An other change has reduced the net interest charge to 6 per cent Cint on loans loaM to homes build new ones or refinance mortgages