MAIL TRIBUNE, Madford Or.
Wednesday, Api. 27, 1960
,
Down Payment
Reduction Under
FHA Considered
Washington - (ITD - The gov
ernment is considering a cut
in the minimum down pay
ment on houses purchased
under FHA loans.
The reduction under study
could reduce by as much as
$525 the home-buyer's origi
nal outlay on homes costing
more than $13,500.
A final decision has not
been made, according to top
housing sources, but could be
reached this week. Zimmer
man is waiting for his staff
to put together some late sta
tistics on mortgage money
conditions before he commits
himself.
Pressure Resisted
Conugress authorized the
lower cash payments last year.
Despite strong pressure from
home builders and other
sources, Zimmerman refused
to exercise the authority last
autumn. He arjued that with
home loan money as hard to
find as it was then, cutting
down payments would not
help either home buyers or
builders.
In the past four months
credit has eased generally. In
terest rates on home loans
have not declined as a rule
but home buyers are finding
it easier to get financing at
going rates.
This is reflected in applica
tions for FHA insurance on
new houses. Applications
dwindled from 39,100 in April
to a low of 16,100 in Novem
ber as money tightened in
1959. The drop stemmed from
lenders' unwillingness to take
FHA loans at their maximum
interest rate of 53i per cent,
even with the, U.S. govern
ment backing the risk. Volume
of applications rose in De
cember, February and March,
climbing last month to 34,218.
Time Believed Ripe
That sizable rebound plus
other signs that mortgage
money is in more plentiful
supply have virtually con
vinced Zimmerman that the
time is ripe to cut down pay
ments. Housing Administrator
Norman P. Mason, former
FHA head and now Zimmer
man's boss, is of a similar
view.
The new down payments
schedule would still require
3 per cent cash on the first
$13,500 of purchase price.
The middle bracket in the
schedule would be lifted from
the present $16,000 to $18,000
and the rate on it reduced
from 15 -to 10 per cent. A 30
per cent cash requirement
would prevail on purchase
price in excess of $18,000. It
applies now above $16,000.
Lookilfpfap
i
Instant dressing! Step in,
wrap and tie this carefree
casual. Note square neck,
breezy back-V. Choose sherbet-cool
cntton for sunny days
in or outdoors.
Printed Pattern 9235: Half
Sizes 14V4, 16V4, 18i, 20V,
22V4, 24V4. Size 16'4 require
3 yards 45-Inch fabric.
Send FIFTY CENTS (coins)
for this pattern add 10 cents
for each pattern for first-class
mailing. Send to Marian Mar
tin, Medford Mail Tribune,
Pattern Dept. 232 West 18th
St., New York 11, N.Y. Print
plainly NAME, ADDRESS
with SIZE and STYLE NUM
BER. JUST OUT! Big, new 1960
Spring and Summer Pattern
Catalog in vivid, full-color.
Over 100 smart styles ... all
sizes . . ' a" occasions. Send
now! Only 25c.
ALL COUPONS VOID AFTER SUNDAY, MAY 1st, 1960
Exclusive triple filter kills
99.9 germs, bacteria,
virus.
Removes pollen, dust,
smudge.
3 electronic tubes generate
negative ions,
Even better than a kitchen
fan objectionable odors
disappear in seconds.
SOc All WEATHER
ANSC0 FILM
620 ONLY
Reg. 39.95
PURITAN OR FILTRONIC
ELECTRONIC
PURIFIER
88
WITH
COUPON
M VITAMIN
0m9m 100 Th
'C
100 Tsbi - 100 MS,
(eg.
1.09
WITH COUPON
I BATTLE RIBBON
CURAD
I
5c
WITH COUPON
1.00 VALUE
SPEAR POINT
STAPLER
With 1000 Staples
with
this
ecu
49'
REG. 1.00 1
PUSH
BUTTON
SPRAY
ENAMEL
7(S
With Coupon
Ban
1.95 VALUE
FOAM RUBBER
THROW
PILLOWS
t2
BH Bel MM MM
I i SP
J EXAHJ
ASPIRIN
TABLETS
9'
29c
WITH COUPON
xyf M with
REG. 89c
STERI-TEX
HOUSEHOLD
Gloves
SHOE TREES
Wooden Spring Tension
59
with
Coupon
2.49 VALUE
PUFF SPUN
27"27"
BIRDS EYE
DIAPERS
1
1 R9
I REG. 83c
BUFFERINp
I With
Coupon
-.L.I
push-button macici
3-97 !
WITH COUPON
BinMMMII
it
Stationery!
Values
to 1.25
ONLY
49
With Coupon
everything you need flltJ 1 0 AC
or perfect shines! JMl iy.VJ
Reg. 14.95
Shakespeare I
No. 1774
Push Button
Wonder Cast
REEL I
KLEENEX
With Coupon I
''''eoupon
400
COUNT
19c
5.00 Value
Village Blacksmith
BNo 40-8
HEDGE
Q TRIMMER
12.99
Polishes and shines all In
one step.
Costs less than one cent'
a shine. .
Guaranteed by Ronton for I
ull year.
19
WITH THIS COUPON
REG. 35c
JUMBO SIZE
Kleenex
Towels
Single Roll aj
with
this!
coupon
I IJIiej iiem r ww w
I
I ENVELOPES
With
This
Coupon
2.00 Valut
Men's Fancy
ARGYLE
SOCKS
40 Wool
40 Nylon
with
coupon
99c.
niii tai sa tm i
39.95
Value
29c
WITH COUPON
ZEPHYR
6 TRANSISTOR I
RADIO
Complete With
Case, Battery. m
Earphone
1Q60
w
IEESI
I
WITH COUPON M
REG. 1.29
BLACK FLAG
HOUSE AND
GARDEN
INSECT
BOMB I
97c
Kills flying
St crawling
FLASHLIGHT
BATTERIES
If AK PROOF
REO. 20c
5c
each
WITH COUPON
BAN
ROLL ON
DEODORANT
With Coupon
GENERAL O ELCCnUC
10
FOR
All Ocraiien
GIFT
WRAP
Oualify Brand
Rtg. ISc
With Coupon
PAINT ROLLER
& TRAY SET
EIGHT CUP
AUTOMATIC
COFFEE
MAKER
With bnw Mltctor
witch you gt coff
uit the way you lika it
k Maltaa S to f cup
if ftmtut O.I, quality
Gleaming chroma finish
99
WITH
COUPON
OUARANTIED ONE YEAR
DISH
CLOTHS
III REG
0
I with A
coupon 'or
ii
D KAISER FOIL
j , ALUMINUM
15c
19c
PUASI BRAND
DOG FOOD
WIPH COUPON
8.66'
With
Coupon
WITH
THIS
COUPON
WITH COUPON
REG. 39c
100 COUNT
n PAPER
I
29
I With Coupon
89c VALUE
LARGE 14-OZ. CAN
MIXED
NUTS
69
With Coupon
WITH r
CO U PONxfi5P5!SL
3.50 VALUE
Car Wash
BRUSH
J l f. VAVMTTin 7. TFT JirSVlm
V
mmw,MMTJ mwmmrmmin mKo
LADIES MEN'S
CANVAS
GLOVES
H19
wrm coupon
mLMmuMm
5.
W
REG. ISc
HEAT-PROOF GLASS
SOUP
OR
CEREAL
BOWLS
1.98 Value
100-Ft.
JUMBO
PLASTIC
CLOTHES
LINE
ONLY
Similar To Picture
9
79
With
Coupon
23.95 Value
4-Pound 100 Thormofil
SLEEPING
BAG
Full length 100" tipper.
Double air mattress
pocket.
Pair model.
ft99
With
Coupon
SSpf1 ' et Pay Less
r.
r 9
m
w47 c.r. i
EBi mm mm mm mm mm
B
I REG. 1.98 I
MEN'S HAWAIIAN
I fiS$ SP0RT I
1.1 SHIRTS
JkL i-oo
I Rog. 39c 3-Bar Pack
D'AL I
imm S0AP i
iWrnWl 6Barl i
I I
SKRIP
INK
ASS T COLORS
Reg. 4.98
2 PLAYER
Badminton
Set
With Coupon
Complete with 2 99
Birdies, Net, Rule
HOT 010
HARDWOOD
Briquets
A POUND
IU BAG
charcoalI
BUM
97c Value
With
Coupon
METAL
SHOE
RACK
Holds
9 Pair
69V
72x108
CANNON
MUSLIN
Twin
Sheets
$159
I each
With Coupee
Roe. 3.95 1
Exactly 4 Yards I
All New Patterns
and Materials
Fashion
Fabric
299
Reg. 89c
SHOE SHINE
KIT
Brush, Dauber,
Shine MfS
Rag
i I
ale
4.9$ FOOT
Value SPRINKLER
Wild
(oupti
SO FOOT IENOTH
GARDEN HOSE
2.25
Value
WITH COUPON
-in
AtTimmw,m,7X?. P.
H 'JIbzL- Room I
D W AQ With D
0 fed " ZZm
pUalEelalMPal
TT m m iiisii i eue.euii le
iumUKi 0 B " Complex
BLOUSES fi iil Vitamins
REG. 49c
MISS
MARVEL LEE
SI GAUGE
IS DENIER
o bjsiibm aaB
Vitamins
With
NYLON HOSE
35
T7
Flitttrtng fjihion
lhadei for day tim
Pair
Straight pencil-lino
mi mi.
Pull fashion form fitting.
WITH
COUPON
I.9J VALUE OELUXI
RADIO STEEL
CART
large 3-Cu. J99 ft
ft Capacity O i"
With Coupon II
m p mmm u
I 29c Value 9
FRICTION
TAPE I
With Coupe I
SCOTCH TAPE D
f. He Siie f
ana mmm, .