Show FUNDS FOR HOMM HOMES in el SUPPLIED BY BANKS by ROME C stephenson president Ameri american capt bankers alsoc assoc association aaion A LARGE portion of 0 the tha funds required in home building always has been furnished by banks they have shown constantly a deep interest in the performance for mance ot of this feature of national I 1 development upon it rests reals much 4 of 0 our count rys f future u t u r e stability and any contribution to its nd ad v van a n c cement e rn e n t redounds resounds red to the advantage of all it a STEF HENSOM 11 so banking has never permitted its operative cooperative co attitude toward homo home building to lessen practically all banks now accept sayings savings deposits which can well be turned to the advantage of the home builders the construction of individual dwellings requires a large amount ot of financing and Is a thoroughly commendable enterprise necessarily the aid given to home builders Is governed by the sound banking rules which have grown out of the years of experience and tho the constant studies of bank practices all AH of the efforts made to secure broader real estate loan privileges to adjust resources to make it possible to lend larger sums tor for long terms tho the standardization of mortgage loan formulas and the actual lending ot of vast sums on mortgage notes evidence the tha desire of banks to contribute contri buto a full measure of 0 support to the home build in ing movement this Is true of all classes of banks but even in a more marked do degree reo ot of those whose deposits are largely in the form of savings and whose loans are primarily tor for buildt building ag or home Jur purchasing chasing purposes sm both sides protected the process through which bante bank loans are made on real estate Is as simple as the nature of such an important transaction will permit when money Is advanced tho the lender must know that repayment will be made the specified timo time likewise the borrower wants to be assured that after he has figured the loan load on the basis of his conservatively anticipated ability to pay he will not be required to do more that he will not be disturbed la in his efforts to work out of 0 his obligations under those terms whether his agreement Is to repay the entire loan in three or five years or on a monthly or yearly basis he wants the assurance that ab nb no additional burdens will be imposed upon him all ot of this Is settled definitely in advance there is no mystery about any ot of the details and when the negotiations are complete the borrower knows just what he may expect and what he be will be required to do to meet his obligations loans made to persons who wish to acquire homes are not necessarily building loans ocemay one may wish to purchase a home already constructed in this form of transaction bank loans are used very freely because it is the only kind of a real estate loan some classes ot of banks may make others of course may lend upon real estate with improvements prove ments uncompleted and advance funds as the construction progresses different styles in home financing have developed in the various states and banks have tried to adapt their facilities to the needs whatever character ot of assistance is required in any particular instance usually can be found in a some bank in the local community among banks and borrowers tor for home acquisition purposes a long established and thoroughly tested relationship exists banks are sot not the only agencies through which such funds are available they do not embody all the spirit ot of helpfulness which abounds however through the years of their operation cooperation co their aid has been ot of unquestioned value to the home homa builders whose efforts to establish a peri permanence aneice tor for themselves have received constant encouragement bankers everywhere are ready to counsel with their customers about their homebuilding home building plans and to assist to the extent of their ability this Is being done constantly and tho the many advantages ot of it are not without recognition |