Block · one region of the page, as the scanner read it. It may hold a whole story, part of one, several, or an advertisement; stitching blocks into articles is the next step. Text is supplied OCR.
Page 16 · column 6 of 7 · from the scan, no model involved
"Financing Real Estate"
Real Estate financing at one time was fairly simple. You had two types of loans, either the Government backed VA, FHA or the Conventional. With the Conventional loans the Bank would lend you 75 to 80% loan to value. Meaning that the property had to appraise for 75 to 80% of what you wanted to borrow. If it appraised for the required value the bank would lend you the 75 to 80% and the borrower would come up with the rest as a down payment. Your credit would have to be checked out and the employment history would have to be satisfactory.
With the Government Loans, the Government would guarantee the bank the portion of the loan that the borrowers would normally put down as a down payment. Hence the 100% VA Loan and the 95 to 97.5% FHA Loan. Today there are many variations of the
82.4%