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PAGE IK - PLAINDEALER - FRIDAY, APRIL 17,1981 OPPORTUNITY KNOCKS A D C II mm Access to Chain-O-Lakes 3 large bedrooms, 2 full baths, family room, country kitchen, wooded lot. $79,900. RDG REALTY OF ILLINOIS, INC. 385-9394 Three bedrooms, garage, private lake, tennis cour­ ts $49 ,900.00 ESSEX-COSTELLO 385-7050 1 Vt story aluminum-siding, 2 bedrooms, basement, garage, wooded lot. $43,900.00 RED CARPET 385- 2340 Ranch Condo 2 bedrooms, 1'/» baths, 1000 sq. ft., wooded area, fenced in patio, garage. . .$54,900.00 RED CARPET 385-2340 In town 2 baths, Franklin fireplace, aluminum siding and garage. $57,800.00 LAKELAND/HOMETREND 815/459-4810 Walk to the river or golf course from this 2'/a year old 3 bedroom, 2 bath ranch on Vt acre. . $93,500.00 BYRNES BROS., INC. 385-6900 Affordable Forties - contemporary home. 3 bedroom home, cathedral ceilings. McHenry schools $45,500.00 ESSEX-COSTEILO 385-7050 Alum um sided 2 bedroom home on double lot. Nicely kept with fenced yard and garage. $42,500.00 BYRNES BROS., INC. 385-6900 It's not very often that a genuine opportunity, a real bargain makes its appearance. When it does, many people fail to act simply because: (1) either they think they'll be better off if they wait a little longer, (2) or they think they can't afford it. Both perceptions can be costly miscalculations. Today our housing market is flooded with thousands of homes at bargain prices. Many have been on sale for a year or more, not moving primarily because of high in­ terest rates. As time passes, their owners have lowered the selling prices, frequently to ridiculously low figures, in order to attract any kind of sale. If you have been thinking about buying a home some time in the future, stop putting it off. Now is the time. When in­ terest rates do drop significantly and home sales pick up, those bargains will be long gone or home selling prices will be raised due to the increased demand. So much for the idea of waiting a little longer. As to the question of being able to afford the cost of a new home, McHENRY SAVINGS AND LOAN has the an­ swer. Until July 31, 1981, we will allow purchasers of homes presently secured by McHENRY SAVINGS AND LOAN mor­ tgages to assume the present outstanding loan balance at a rate only 2% to 3% above its current rate. Any ad­ ditional financing will then be provided at today's rates. While this may sound complicated, it really isn't. Here's an example of how the plan works: Assume a house selling for $60,000.00 with an existing mor­ tgage balance of $30,000.00 at a 7V2% rate. A 20% down payment of $12,000.00 reduces the buyer's new loan need to $48,000.00. We will refinance the outstanding $30,000.00 balan­ ce at 9W%, and the final $18,000.00 of the new loan at 14'/a %. The buyer then is going to finance his home purchase at an ef­ fective total rate of only 11.4% , which is considerably below the current market level. This new loan will be provided in the form of a Renegotiable Rate Mortgage (RRM), which means the present rate probably will go lower in the future. Ultimately, as the economy im­ proves, those with RRM's will benefit as their interest rates can vary at a rate of V2 % a year. This is a good deal for anyone having a Renegotiable Rate Mor­ tgage, but an outstanding deal for those who take advantage of our present creative financing on existing mortgages held by McHENRY SAVINGS AND LOAN. Shown here are just a few of the homes presently being listed by local Realtors which offer our special financing. Look for the orange seal FOR SALE signs in this area. When you see our seal you will find the least expensive home financing in this com­ munity. Don't you agree this is possibly a once-in-a-lifetime oppor­ tunity? McHENRY S A V I N G S McHenry Savings V ANO lOAN ASSOCIATION^^ 1209 North Green Street, McHenry 815/385*3000 10520Main Street, Richmond, 815/678-2061 10402 North Vine Street (Huntley Center on Route 47) Huntley, 312/669-3333 SAVERS HOURS: 9:00 a.m. to 4:30 p.m.. Monday, Tuesday and Thursday; 9:00 a.m. to 1:00 p.m. Friday; 9:00 a.m. / to 3:00 p.m. Saturday McHenry Office Drive-In windows open Wednesday 9:00 a.m. to 2:00 p.m. Closed Wed­ nesday in Richmond and Huntley. Deposits insui ed SI00 000 by the Federal Savings & Loon Insuronce Corp. fattertrjkkple, lUpir̂ ̂ Wy$ople,l McHENRY S A V I N G S f t 1 0 M A S S O C I A T I O N LENDER MEMBER ELE Fodoral Savings A Loan Insuranco Corp.