A Guide to Co-operative Housing: Chapter 3 Financing Co-operative Housing
St. Patrick’s College, Institute of Social Action (ISA)
Chief Editor Gerald E. Clarke
page 5
The National Housing Act is a Federal Act of Parliament, designed to help more people obtain money for home construction under NHA, loans can be made to co-operative housing groups up to 8O1o of the appraised value of the house” The appraised value of a house, as used here, is the cost of building the house, including labour and materials. The amount of mortgage will not exceed the cost of materials if the labour is supplied by the prospective owners. Almost all co-operative housing groups supply labour without monetary return.