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Show tx irr EXPLAINED H0NLO;'BOTARV CLVB At the Rotary club last Friday, HutTnTnlluaLn, .eS.HonUt'he National Housing Act and showed how sn P 1 it was to obtain financing foi home modernization and building under un-der the FHA plan. He explained that it is pssible to get financing for new con struction. refunding of exlstin debt, and for the purchase o existing dwellings, to the amoun of SO per cent t the value of the property, payment may be extended over as long a pel iod as twenty years. -interest rates are unusually how" he observed. "You may build a horn, for, say, $2500.00. Under FHA, you may finance $2000.00 of the cost and this at 6 per cent interest. Monthly payments on the $2000.00 on a twentv year plan would be about $15.00 per month, plus one-twelfth one-twelfth of the annual taxes and fire insurance premium. Your equity, the $500. may be represented repre-sented bv cash, lot, building materials, ma-terials, labor, or by any combination com-bination of the same." Mr Lamoreaux explained that interested people could communicate communi-cate with E. W. Simmons of I3t George, who is chairman of the Better Housing Committee, or direct to the Federal Housing administration in Salt Lake City. "By all. means," he advised, "people who are interested should go deeper into the plan and discover the ease, convenience and thrift in financing under the FHA." |