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About Herald and news. (Klamath Falls, Or.) 1942-current | View Entire Issue (Dec. 11, 1955)
SUNDAY. DECEMBER 11, HERALD AND NEWS. KLAMATH FALLS. OREGON PAGE THREE Lenders Finnnclng for new homes, eilh- mortgage loan officials in Klumath er rental or for builder occupancy, Falls. and for remodeling of eislinR Some lendcrs "cr Ulree types of ana lor reinoaeiing 01 existing nome jUialicing-Fedeial Housing housing units, can be obtained in Administration loans, Veteran's Ad various ways, it was explained by ministration and conventional. USAF Explains Purchasing Policies On Local Level Purclmse of supplies for the KV.amath Falls Air Force Jet in tercepior base has been slow be cause of the limited storage space; however, as much as possible is be.Vtg obtained on the local level, according to Major Connelley W. Minner. bas-l accountable and sup ply ofliccr. Major Minner said there has been a lack of storage area at the base while the U.S. Bureau of Reclamation continues its head quarters there. He said the main purchasing of quarters and of fice furniture, and office machines will take, place within the next 30 n 60 days.. . About 15 ptr cent oi the por c?iss to dL have lxn placed n uichs ljust,. thereby 1 totriut Iol Motors n epgnrtun- U hit. "We matjuvlty m 'sutll8 tuts Qua fmn!! ttwn m m 1 (Mi ewfciMl rchsU i fsti kn I UMMri4 Um ISISb ntMlMM tw r (Mil tM 'at rt ' 11 a (( 4Klk . tU.C. KlUrV. trV. .;1 w. 11 M' Kill WMI' i ohMiw'Wi gMMM Wh-mI1(wi Air UM r.- Mt Vfc MM fUltMT. vi.mmi oc irmn aa '. tu W4KirrtA U :im '.Js qrtM Us verlieM mmi VwjvSWi Mr bl It lwsj'. ti.itui" . f'W ' rtw M S fcijii ' W-hwi1 wtficc mcitii r ' han4 tools .and electric KM' ai'lMrs trill Im placed fr (t.u cVit rixiKsts in ( near S4vr. XtMllinwal mess hall etui AHt m vvrsl wtnr, l (ffo. k.ly iU (4 Im tttw twl twitil, MMjxir Ike pll Vtt .V SSEW- ii eK.(, Miixuf t WrlM tfvi (pit-Ui. B.ia. i K - .illWr s SI. Hs hst i Mm iktKiKuit bhSi- ill 1 . ', . . .0-, , ' tieoCMQ Tfl' A-'s I ... j, Jli lffi III ' '"'" '' " ' ' !tot itoMmM Um th i W'&I ' POO 'Ml -I ' ' ' r yef lo w, f j Pot f feat Iszf spas60 fo mm & I J . ' .ho- mi j ; J hi 9 t e OS to MO ac MnrnnA a too s n is Si JSSSSIBffl BBtl f ,n I x. xt., QMV ffv - -,- . ..-rt . DMlH MHa O Birt(3lifit HBO MM to B8rt8 I -. X. I tTor ID 48 SO D . -. j II A . sx" tt : . r &c UTIUTYiSERViCE . glAMATH PALLS BR1CH j w . ; & TILE COMPANY j . . YOUR AS COMPANY ' 5.0. Bw 573 . PRow S4 1 'j j SW (Mi S.h . it " Offer Varied Types Of terlel area, which provides the basic aircraft supplies. Other Items are normally pur chased through the depot assigned to particular classifications, and office supplies, machines and com mon items are purchased through the GSA. The General Service Ad ministration renders support on unything purchased on government schedules or contracts. Authoriza tion for purchase through GSA provides supplies at a cheaper rate than they can be bought from ordinary markets. Major Munuier concluded. If you plan to rework your kltch-. en, there are tow things that ap pliance manufacturers sug yest. Turn corners vltb counter for k40d surfec. B sure tftnt tltt r j-frlar&lor ifcwr swings B fftt it w oiMtrw:!. AM K cSwwrtul onit by Jlr .lf iw t tor lnts w bflKM objawb. FRIBERO ssi MAurmi mm nil nn mm mnn " Mi W W. WW UiiW !!' ID III IV j 4f tfiv mmm I 7 1 u 1 1 vH? : pi pPleiiS'HEATIWa MOIIMMMfm j ' .... . . gf'tJmmmt The FHA, which was set up by an act of Congress in 1934, am mended by the Housing Act of 1954, is ft federal organization which insures lending institutions against losses which might occut in making real estate loans. It was set up to stimulate building in the U.S. Under Title II the FHA will in sure home loans under the follow ing terms; One to four builder-occupant units can be built with the FHA insur ing 93 per cent of Uie first $0,000 of construction costs plus 73 per cent over $9,000 up to a maximum of $30,000 for each one and two lamily unit. On existing one to four unit homes, not built under FKA oi igi nally FHA will Insure 8& per cVnt of tht first $9,000 and 73 per gent of balance over $.000 ip to $20, 000 for each one and twej family unit. On the construction of one to four rental units the FHA will in sure 85. per cent o?, the amount which would be available to. an owner-non-otcupayt. Loans made under Title l arc, repaid under a monthly amortiza Hon plan over a period of from 10. 15, 30 or 28 years. The FHA Remodeling? Remember- rule sets 4.5 per cent interest plus a Yi per cent mortgage insurance charge on these loans. Generally speaking, 80 per cent loans have been the maximum that local lending Institutions would consider under FHA Title II. Al though FHA Insures loans up to 93 per cent on parts of Title II. the amount of the loan is contin gent on the availability of funds of the lending institutions. - Mortgage officials over" the U.S. this fall have rcporlod that avail able money for home loans has bcea At quite short supply. Some leading mortgage firms have with drawn from the picture because of this shortage, according to re pdrts from financial circles. Local lenders are hopeful that the mortgage loan picture In Klam ath Falls will be eased by next spring. Under Title I tSe FHA offers' homo improvement loans only for repair, reconditioning, 4 painting, roofing, new foundations and electrical-plumbing repairs f existing homes. These loans are written up to a maximum of $2,500 for a pe riod of 36 'months. Title I loans can be made by local lending institutions and in sured by the FHA, if the loans Financing are made under existing FHA reg ulations. At present the payment on a $1,000 loan under this title would be about $32 per month. In addition to these FHA loans, the Servicemark' Readjustment Act provides for trta guarantee to (he lender of mortgage loans to qualified veterans o( up to 60 per cent of the Veteran's Administra tion appruiscd value of the build ing with a maximum amount guar anteed of $7,500. The general policy of locol lend ing firms has been to write a 90 per cent mortgage -loan on these GI loans. The career servicemen's loans rire offered under section 225 of 'FHA. These loans are available lo any career serviceman on every permanent change of assignment. Under this section the FHA guar antees 95 pit cent of the loan contingent on local hndetn' poli cies. Some lenders provide a method of home improvement by a so called "One n End", mortgage for expansion or lmjrovcnieri of his home. Various lenders a,so offer tb conventional type home loans with the mortgage loan pfferd U to 80 per cent with amortization irf top lo 20 years.
