The Western news. [volume] (Libby, Mont.) 1933-current, 1934-09-06
Loans Available
For Improving
Home Buildings
Article Tells How 10 Proceed to Obtain
Funds for Needed Alterations on
Houses and Business Places.

special interest to people of this dis
trict, because anything that will in
crease the sale Of lumber and provide
work is of real value to the community.
Naturally many will wish to know
how to proceed TO obtain loans under
this act. In response TO that desire,
there is culled below pertinent infor-
nation from booklet published by the
government. We quote the following;
The Better Housing Program.
For several years past, homes all over
America have besn steadily going down
hill Many property owners have been
unable TO pay for normal upkeep and
repairs. A far greater number have de-
layed the larger improvements which
mean better housing and better living.
You, yourself, are the best judge of
whether your home would be more
desirable with new coat of paint, a
new roof, additional plumbing, lighting
! fixtures or heating equipment. You
know what would improve the appear
ance, Reliability and efficiency of your
own business property
Now is the time to make those i'm
provements. The National Housing Act
was designed to help you improve
your property and increase its value
and usefulness. Through one of the
simplest and most reasonable systems
of financing ever devised, the Act
makes it possible for you TO make de-
layed repairs and provide better sur
roundings for your family.
If you have cash for property i'm
provements, cash payment is, of course,
] the best method The favorable time is
now. If it seems more convenient to pay
for such work out of your regular in
come, now is the prudent time to bor-
row-either directly from your bank,
building and loan association or other
institution cooperating with the Federal
Housing Administration, or through
your contractor or building supply
dealer.
/ Here's How You Go About 1t.
| You may have certain property i'm
provements already in mind-the small
! investments that pay large dividends
in better living. Perhaps it's light
switches, paint, plumbing plaster, or a
! complete remodeling job.
Decide what Improvements you can
provements you can not afford to neg
lect any longer
! Call a contractor, Off its an i'm
portant job-an architect
Then comes the question. How shall
I pay for these improvements? II you
have the cash-cash is the ideal way to
! pay.
But If you should find ii more con-
venient to pay out of your regular in
come--the investment is sound one,
! and now is the prudent time to 60
ahead. The Better Housing Program
has oiled the machinery OF credit so
that you may pay easily and conven-
iently for property improvements made
at once
Your contractor or supply dealer is
! in position to cooperate.
Or you may arrange directly for a
low-cost, long payment loan with your
own local bank, building and loan as
ISOLATION or other financial institution
cooperating with the government.
The way has been smoothed-th
future of your property is up to you.
Here's What You May Be Asking.
Who may apply2 Any property own
er, individual, partnership or corpora
ton, with regular income from salary
commissions, business or other assured
source. 1t is not necessary to be de-
positor in the financial institution con-
suited.
To whom do apply? To any Ma
tional Bank, State Bank or Trust Com
pany, Savings Bank, Industrial Bank
Building and Loan Association or Fl
nance Company approved by the Fed
eral Housing Administration; or to {
contractor or building supply dealer.
Do ! borrow money from the govern
ment? No.
How much may ! apply for? From
$500 to $1,000 depending on your in
come, for Improvements on any one
property. A like amount in connection
with not more than five properties
$4,000 maximum on each). Approve
by the Federal Housing Administration
Washington, D. C., must be secured b,
the lender in advance for loans on NOR,
than five properties.
How long may notes rum For an,
number of months from one to three
years. Notes extending from 81 months
to five years may be submitted to thu
Federal Housing Administration by fl.
nancial institutions for special consid.
eration.)
What security is required Only tina
you have an adequate regular income
and good credit record in your com
munity. al
What assurance need | give? Tha
you own the property. (Lessees unde
repairing leases" may qualify unde
special circumstances which the loca
lending institutions can explain) Tha
the annual income Of the signers of TIL
note is at least five times the annua
payments on the note. That your mort
gage, if any, is in good standing, ant
that there are no past due taxes, in
terest or liens against your property
That you will use the proceeds solel.
for property improvement.
What signatures required
nature of the property owner; and Tex
! cept in special cases) if the owner /
an Individual and is married, also sig
nature of wife or husband No othe
co-signers or endorsers are required.
What is the cost Of this credit? Tn
financial institution may not collect a
interest or discount or fee Of any kine