Show Returning Veterans Can Buy or B Build ild Homes I With Federal Fed rJ 1 A In one section of the G GI I. I Bill BW I I of 01 Rights congress recognized that I one of the most fundamental hopes of the returning veteran will be for tor fora tora a good home It provides that the Federal Government through the Administrator of oC Veterans' Veterans Affairs will guarantee up to 50 per cent or ora ora a maximum of 2000 loans made to veterans for tor the purchase construction construction construe tion repair or Improvement of homes or for paying off otT over-due over I debts taxes or special assessments tf on homes owned by veterans Where a veteran on his own behalf behalf behalf be be- half secures a first mortgage on his home from a Federal agency or under un un- under der Federal insurance he also can borrow a do down through a second secord loan up to 2000 fully guaranteed guar guar- by the Federal Government The law Limits the interest rates which may be charged and requires require repayment within 20 years A veteran can buy a home without having the he ready money for a 60 down payment if he has a job or income in in- come which will enable him to re reo pay his loan on easy terms over a long period of time The bill as also o requires that the purchase price pric e and repayment terms for tor homes home s financed under the act be reasonable reason reason- able and that the properties be suit able for Cor dwelling purposes It is estimated that about 1400 married men in the armed services service s will need houses immediately I after Ul r their return to civilian life |