The Algona Upper Des Moines from Algona, Iowa on April 4, 1950 · Page 20
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The Algona Upper Des Moines from Algona, Iowa · Page 20

Algona, Iowa
Issue Date:
Tuesday, April 4, 1950
Page 20
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8—Algona Upper Des Melnes Tuesday, April 4, 1950 • $380,000 Building Program In Algona ncui and most HOMES begin with FHA LOANS Whether or not to buy a home is a decision you will want to make only after careful study Home ownership may be a safo and satisfactory investment, or it may be a hazardous experiment. The purchase of a home is usually the largest financial transaction undertaken by the average family; no family can afford to experiment. Review your circumstances carefully. If you decide to buy or build, investigate the FHA Plan of home financing. Under the FHA Plan, the Federal Housing Administration insures mortgage loans made by banks, savings and loan associations, mortgage finance companies, and other approved lending institutions. This protection enables lending institutions to make insured mortgage loans on desirable terms with small down payments and low interest rates. An FHA-insured mortgage loan does not come due in a lump sum that is difficult or impossible to meet. Instead, the loan is repaid in equal monthly installments over a period of years. Each monthly payment reduces the principal of the loan and also includes interest, taxes, and mortgage and hazard insurance. Chief Feature* of FHA Plan are: 1. Lower financing charges; 2. Long-term loans extending over a convenient period of years; 3. Advance by the lender of up to 80, 90, or 95 percent of the total value of the property; 4. Repayment in equal monthly installments, about like rent; 5. Inclusion of taxes, intest, and insurance in the monthly payments; 6. Elimination of second mortgages and of the need for periodic and expensive refinancing; 7. Improvement of housing standards and conditions. If you wish to buy a home already built, your local real estate firm can show you homes eligible for FHA-insured financing. If you wish to build, it is best to get sound technical advice at the very beginning. Talk things over with a local architect, builder, or material dealer. He will give you practical suggestions that will help to clarify your own ideas and will help you to estimate the cost of the home you need. Make your application for an FHA-approved lending institution in your locality. A list of these approved lending institutions may be obtained from your nearest FHA office. G.I. HOME PURCHASES UP More than twice as many veterans are now financing the purchase of homes under the G.I. bill as compared with a year ago, Veterans Administration reports. An unprecedented mid-winter rise of 4,500 home loan applications in January, 1950, over the December, 1949, total raised January receipts to 42,024—the largest number for any month since November of 1947, VA said. This compares with a total of 19,659 received in January, 1949. VA said the rise in loan volume during January is particularly significant in view of the fact that both home construction and home buying normally decline in the winter months. It continues a steady upward trend in G.I. home loans which began last April. DIST1NCII/F SMAl.L HOMI.-.S • LwN^X^,^ PLANNED, DESIGNED, PRICED... FOR YOU! BUNGALOWS ARE YOUR BEST HOME BUY When you've dreamed of a home of your own for years, you want the finest you can get for your money. Here it isl Large rooms, plenty of closets, room for expansion, and with adequate room for today's family. **... The advertisers on this page can help you with all of your building or remodeling plans and problems .... 23 New Homes For 1950 Are Planned For Certain Algeria's 1950 building program at the present.stage will represent at bast $380,000 in construction. These figures are broken down into an approximate program totaling $189,000 for new homes within the city, and $191,000 for new construction of commercial units. * Ohe Algona contractor is planning to build 15 new homes, and already has work started on several, another is building four of which two are with!.i the Algona city limits, and othor contractors have four planned for certain. Much Commercial Building The commercial building program, also, is going to be good. Completion of a new addition to the public school system is slated for this year, although the total cost involved is not included in the above figure, as it was begun last year. A new convent for the Presentation Sisters will represent about $100,000 of the total in commercial construction, and in addition to that there is to be an addition to the Druggists Mutual building here, a new store, and a new garage building. Many Are Interested The above total, and construction items, are definite projects that will be finished this year. Local contractors, building supply dealers and finance organizations state however that many more inquiries have been made, and if even a small percentage of them go through with their plans, the year 1950 will see a considerable city growth. It will not be a boom year, but wil! insure local contracting and building trades firms a consistent season of construction. Many families who have been interested for several years in new homes have finally decided that there is no use in waiting longer for market changes; homes built today represent better construction with better materials than has been the case the past few years, and modern building methods are enabling contractors to skim costs as much as is possible. No Boom—Steady Growth Algona's development of new homes has not skyrocketed in the years since the war; neither has it stood still. But if has left a definite demand for more and newer homes of moderate cost, and the year 1950 seems likely to bring the .dreams and hopes of many to a happy conclusion. > If YOU are interested in finding out more about construction costs, financing means, or in just talking it over, any of the firms on this page 1 will be happy to discuss their own particular speciality. **** *.***. Install a CENTURY OIL BURNING FURNACE • conserve space • save fuel • fully automatic • FHA approved FREE ESTIMATES ON ALL INSTALLATIONS SIGSBEE Plumbing & Heating 208 E. State Phone 1070 Specialists in needs for homes • floor and wall coverings • home appliances • interior and exterior paints • YOUNGSTOWN KITCHENS SEE Cowan Building Supply Co. 210 East State Phone 275 FOR EXPERT PAINTING *' and Decorating, contact-*''' Mergen and Webster .••';• no job loo large or too small.: Free Estimates MERGEN & WEBSTER Phone 634-J or 756 Vour Lumber Is Here! Timbers to Shingles Our Yards Are Now Fully Stocked With All Spring Building Materials Many carloads of UnUhed dimension lumber have been unloaded and placed » out yards. Olher building materials such as block We. aggregate, fl^rir*. roofing and shi IM ' able io you a* Norton's. We aUo have full and complete .locks of farm needs-posU. fencing, etc. We are ready for yourTpring buildup needs-and we welcome ihe opporiunily to serve ?ou! Consult Us on Any of Your Building or Remodeling Problems F. S. NORTON & SON Building Materials of All Kinds PHONE 229 ALGONA QUALITY AT LOW COST • Building Hardware • Home Appliances • Pittsburgh Paints *Hand & Power Tools KOHLHAAS HDWE. Ed and Pat Cullen ii Homes of beauty and personality Built to Your Specifications "BUD ROBINSON GENERAL CONTRACTOR Phone 410-J .... for the best in building block, contact Algona Block & Tile Co. • HAYDITE BUILDING BLOCKS • STANDARD TEXTURED BLOCKS ALGONA BLOCK & TILE E. State St. Phone 280-W EARL B. MILLER General Contracting and Building All Types of Commercial and Home Construction Telephone 890-J Algona, Iowa 'PLUMBING! For Electrical Contracting of All Kinds• RESIDENTIAL • COMMERCIAL Lighting and Fixtures Wiring Of All Kinds Noo nlighting FREE ESTIMATES ART & ERNIE'S ELECTRIC CO. Diagonal Street Phone 1155 Guaranteed Heating & Plumbing Residential, Commercial Free Estimates Cheerfully Given P. R. IRONS 812 McGregor Phone 923-W BUILDING or REMODELING? We Will Welcome a Chance To Estimate On Your Electrical Work Without Obligation To You. QUALITY WORKMANSHIP BACKED BY YEARS OF EXPERIENCE Electric Construction Company Phone 170 Algona, Iowa FOR Roofing Siding Insulation Alsco Combination Storm & Screen Windows See or Call Your Local Established Experienced Roofer "No Job Too Large or Small" ACKERMAN ROOFING CO. Diagonal St. AIGONA Phone 460U

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