Building and Loan Groups Move With the Times
State Building Loan Associations work on a modernized system as investors support up-building in North Carolina. More than 135000 shareholders gain dividends while aiding community growth.
High Point Enterprise in High Point, North Carolina
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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Apr 07, 1940
Page
17
FHA Plan Sparks New Peak in Small-Home Starts
The FHA announced a record 3,266 small homes started in the week ended March 23 with mortgages insured, surpassing the previous high of 3,122 in 1939. Over four weeks, 11,207 FHA insured small homes were started, up 59 percent from the prior four weeks and 20 percent from March 1939.
MENTIONED IN THIS ARTICLE
FHA
Stewart McDonald
McDonald
Building and loan associations expand home financing in North Carolina
The article notes abundant funds available to buyers and builders via 177 local savings and loan associations in North Carolina led by Lincoln County Building and Loan Association licensed February 9 1940. It highlights trusteeship by directors, the rise of amortized home loans, government programs with FHA and HOLC, and plans for longer term loans and insurance integrations. It also discusses increased loan reserves, improved appraisals, and readiness to meet housing demand amid economic shifts. In FHA activity, construction tallies rose and mortgage insurance applications surged to record levels, with 4 434 new homes appraised under Title II in the week ended March 23 1940, the fourth consecutive week exceeding the prior FHA high.
MENTIONED IN THIS ARTICLE
Federal Savings and Loan Associations
North Carolina
Lincoln County Building and Loan Association
Building and Loan Associations
Home Owners Loan Corporation
Federal Housing Administration
Savings, Building and Loan Associations
FHA Plan Spurs 2500 Dollar Homes For Low Income Families
Private industry to build thousands of $2,500 homes this year under the FHA program. Homes will be financed with low down payments and monthly costs as low as 16 to 20 dollars for 15 to 25 year terms. Federal Housing Administrator Stewart McDonald says the program will boost home ownership for families earning 1000 to 2500 dollars annually and may exceed 1939 building volumes.
MENTIONED IN THIS ARTICLE
Washington, D. C
United States
Washington
Stewart McDonald
FHA
McDonald
Jones Stresses Importance Of Home Ownership
Federal Loan Administrator Jesse Jones urged home ownership as a path to good citizenship and a safe savings vehicle at the Winston-Salem Federal Home Loan Bank stockholders meeting. He pressed for low mortgage rates, proper first mortgages, and conservative real estate investment, noting real estate loans deserve the lowest rates when secured by improved property. He credited the Home Loan Bank System with financing a million dollars of homes weekly without tax payer cost and boosting thrift, living standards, and employment.
MENTIONED IN THIS ARTICLE
Federal Loan
Jesse Jones
Federal Home Loan Bank of
Home Loan
Roosevelt
Federal Home Loan Bank
FHA Title I program funds and loan plans update
The 500 price class is financed by loans insured under Title I. About 600 FHA approval plans were submitted each of the last two weeks. Construction began on 161 small homes under Title I in the week ending March 25, up from 95 the prior week. Comparable 1939 figures are not available.
Mexico Shifts Purchases From Germany to U S Goods
Mexico increases buys of United States products replacing former imports from Germany. The change signals a shift in trade patterns as Mexican demand leans toward American goods.
MENTIONED IN THIS ARTICLE
United States
Mexico
Germany
FHA Land Planning Expands Dash in 1939
Federal Housing Administration announces a sharp rise in land planning activity in 1939 led by the Land Planning Division. The division reviewed 2,615 subdivisions covering 84,657 acres and 282,890 lots, conducted 17 planning conferences, and 86 city-official briefings to advance neighborhood planning and zoning. The program is cited as boosting FHA mortgage-insurance business and prioritizing salvaging and rehabilitating aged areas.
MENTIONED IN THIS ARTICLE
Federal Housing Administration
Stewart McDonald
McDonald
FHA
Smortgage-Insurance
Also Mentioned on This Page
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Savers and Investors of
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A. Mitchell
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Willis Ball Park
Snow Lumber Co
Mr. McDonald
Vilat
Trinidad Lake
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Ward Street
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Mr. McDonal
Fisher St
Rose Furniture CO
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