Show FUNDS FOR HOMES SUPPLIED BY BANKS by ROME C Q stephenson esit american Bafs banters kers Asse ciali A LARGE portion of the funds and required r in home building always bus bas been furn labed by banks they have shown constantly a deep interest in the performance for mince mance of 0 this feature of national development upon it rests much of our count country rys 1 f fat u t u tire r e stability and any contribution to its ad Y redounds resounds red to the advantage ot of all ILC R C stephenson so banking has ban never neter permitted its ita operative cooperative co attitude toward home building to lesson lessen practically all banks now accept savings deposits which h can well be turned to the advantage of the home buil builders deis the construction ot of individual dwellings requires a large amount 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 the constant studies of bank practices all 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 the standardization of mortgage loan formulas and the actual lending of vast sums euma on mortgage notes evidence the desire of banks to contribute a full measure of support to the bome build ing movement this is true of all classes of banks but even in a more marked degree of those whose deposits are largely in the form of savings and whose loans are primarily tor for building or home purchasing purposes both sides protected Protect eJ the process through which bank loans are made on an real estate Is an aa simple as the nature of such an important porta fit transaction will permit when money la Is advanced the lender leader must know that repayment will be made the specified time likewise ahe the borrower wants to be assured that after he be has ban figured the loan on the basis of his conservatively anticipated ability to pay he will not be required to do more that he will not be disturbed in his efforts to work out of his bis obligations under those terms whether his agreement Is to repay the entire loan in three or live five years or on a monthly or yearly basis he wants the assurance that no additional burdens will be im posed upon him bam all of this Is definitely in advance there Is no mystery about any of the details and when the negotiations are complete the borrower knows just what lie he may expect and what he ha will be re quiren to do to meet his obligations loans made to persons persona who wish to acquire homes are not necessarily building loans one may wish to pur chase a home already constructed in this form of transaction bank loans are ara used very freely because it Is ia the only kind of a real estate loan some classes of banks may make others of course may lend upon real estate with im prore pr orementa ments uncompleted and advance funds as the construction progresses different styles in home financing have developed in the various states and banks have hare tried to adapt their facilities to the needs whatever character of assistance Is required in any particular instance usually can be found in some bank in the local community among banks and borrowers for home acquisition purposes a long established and thoroughly tested relationship exists banks are not the only agencies through which such funds are available they do not embody all the spirit of helpfulness which abounds however through tho the years of their co o operation their aid has been of un questioned value to the home builder bul whose efforts to establish a permanence enc for themselves have received constant encouragement bankers everywhere every whar are ready to counsel with their customers about their homebuilding home bome building plans and to assist to the extent of their ability this is being done constantly and the maur many of it are not without recognition |