What the Federal Housing Administration Stands Ready to Do for Radiologists

Abstract

HomeRadiologyVol. 27, No. 3 PreviousNext EditorialWhat the Federal Housing Administration Stands Ready to Do for RadiologistsPublished Online:Sep 1 1936https://doi.org/10.1148/27.3.374MoreSectionsPDF ToolsImage ViewerAdd to favoritesCiteTrack CitationsPermissionsReprints ShareShare onFacebookTwitterLinked In AbstractThe radiologist, in order to give the best possible service in his important and responsible work, which may mean the life, health, and well being of many people, should have the best obtainable dependable equipment and machinery. This, however, ordinarily calls for large expenditures of money not always immediately available.The National Housing Act, through the modernization credit plan of the Federal Housing Administration, offers to responsible radiologists means for obtaining this necessary equipment and machinery on convenient terms extending over a period up to five years.This modern partial payment plan gives the purchaser the benefit of low prices offered customarily only to cash buyers, and at the same time the advantages of extended credit. Through this plan the buyer may obtain his material immediately and have the benefit of its use while making the required monthly installments.The prospective user of modernization credit does not apply for funds to the Federal Housing Administration, which lends no money, but to a bank, building and loan association, or other private financial institution insured by the Federal Housing Administration against loss as a result of advances of credit to be used for modernization purposes.Because of this governmental insurance it is possible to lend larger amounts at a lower rate of interest and for longer periods than would otherwise be possible.The amount that may be acquired for insured modernization credit will be determined by the credit of the borrower and the location of his work rooms. If the radiologist has his offices in an apartment or office building, hospital or other Class A property, amounts up to $50,000 are available to those of acceptible credit rating for the rehabilitation of properties and the purchase and installation of equipment and machinery necessary in his work.If, however, his laboratory is located in his home or other private dwelling, he is limited to $2,000, which may be used for structural additions, alterations, and repairs only.The amendments to the National Housing Act extended the modernization credit provisions of the Federal Housing Administration one year to April 1, 1937. They provided, also, that the borrower must be the owner of the property to be modernized or must have a lease on it extending six months beyond the period of the loan. Purchase and installation of portable machinery or equipment as well as new construction on vacant property are ineligible.Loans of $2,000 or less are eligible for insurance only if the proceeds are to be used to finance structural repairs, alterations, or additions upon existing buildings. Borrowers up to $2,000 may use it for such purposes as painting, decorating, the installation of modern heating, plumbing, wiring, and similar systems.Article HistoryPublished in print: Sept 1936 FiguresReferencesRelatedDetailsCited BySSRN Electronic JournalRecommended Articles RSNA Education Exhibits RSNA Case Collection Vol. 27, No. 3 Metrics Altmetric Score PDF download