Show Returning Veterans Can Buy or Build New Nev Homes With Federal Aid In one section of the GI Bill Bm of Rights congress recognized that one of the most fundamental hopes of the returning veteran will be for fora a good home It provides that the Federal Government through the Administrator of Veterans' Veterans Affairs will guarantee up to 50 per cent or ora ora ora a maximum of 2000 loans made to veterans for the purchase construction construction construe tion repair or improvement of homes or for paying off due over debts taxes or special specia assessments 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 under under un un- un- un der Federal insurance he also can n borrow a payment down-payment through a second loan up to 2000 fully guaranteed guaranteed guaranteed guar guar- by the Federal Government The The law limits the interest rates which may be charged and requires repayment within 20 years A veteran can buy a home without having the ready mCl mosey morey ey for a down payment if he has a job or income income income in in- come which will enable him to repay repay re re- pay his loan on easy terms over a lung ing period of time The bill biU also requires that the purchase price and repayment terms for homes home financed under the act be reason reasonable reason able and that the properties be suitable suitable suit suit- i able for dwelling purposes I It is estimated that about married men in the armed services will ne need d houses immediately after their return to civilian life lile |