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Once in each 12 month period you can choose to increase the mount of your regular payments by as much as 10%, without With a Variable Rate Mortgage, you can make a noâ€"penalty lump sum payment of $500 or more on any given payment date. And you can do this as often as you like! Either way, lump sum payments will build your equity and save you money! And building your home equity is usually one of the best investments you can make. * REGULAR PAYMENT FLEXIBILITY Perhaps you‘re due for a raise or a promotion. maybe you‘ve almost paid off the car. If you‘re anticipating an increased cash flow, you‘ll be happy to know that you can use it to pay down your mortgage. If you choose a Fixed Rate Mortgage, you may also pay up to 10% of the original amount of your mortgage once in every 12 months period without administration fees or penalties. If you‘re paid on commission or on a monthly basis, it may be inconvenient to make payments more frequently than once a month. In this case, monthly payments may be best for you. However, payment frequency options may be exercised whenever, payment frequency options may be exercised whenever your mortgage is up for renewal. * LUMP SUM PAYMENTS Another way to really save on interest costs is by reducing the mortgage principal. it makes sense to do this at renewal time to avoid interest penalties. A lump sum payment of $2,000 a year can make a substantial difference over the time it takes to pay off your mortgage. For example, on a $80,000 mortgage with a five year term, choosing accelerated weekly payments instead of monthly payments could save you over $40,000 in interest. it would also cut 78 months of your mortgage ... that‘s more than six years! * PAYMENT FREQUENCY If you choose a Fixed Rate Mortgage, there are a choice of weekly, biâ€"weekly, semiâ€" monthly or monthly payments. To cut down the total interest you‘ll pay, choose one of the accelerated payment options. You can save thousands of dollars by reducing the length of your mortgage by months or years. Mortgage Options to Help you Save The Gwendolyn Shop _ the rnewegt,‘;;, made in Canada degned by , Wamera in the cool' :comfor*t of cott ) _meet: the need _ Canacian Women _ exclusively at The Gvendolyt * m Available in GOakville 94 George Street Towne Square Oakville, Ontario _ _L6J3B7Z _ (905) $45â€"8802 â€" ADVERTISEMENT â€" Should you need more money to pay for your new home, your new mortgage can be increased and the rate "weighted" or "blended". This allows you to retain the favorable terms of your "old" mortgage as far as possible. If you‘re thinking of moving and you like the interest rate on your current mortgage, you may want to consider the portability feature. It lets you transfer all the terms and conditions of your current mortgage to a new one for your new home. ® EARLY RENEWAL If you think mortgage rates are on the rise, up to 12 months i advance of your renewal date you can "lock in" at current interest rates. Depending on the new rate, you may be required to pay the difference between the existing mortgage rae and the current rate for a mortgage with the same term, based on the number of months left in the term of your existing mortgage. You have a choice of terms. But, depending on the new rate, you may be required to pay the difference between the old and new rate (based on the number of months left in your mortgage term). * PORTABILITY Dan Cooper is an awardâ€" winning Associate Broker with Countrywide Town Centre Realty Inc. and can be reached at 338â€"6550. administration fees or penalties. Best of all, the increased payment amount goes directly towards paying down your principal. When you‘re increased your payment, you must continue to make payments at the new level for the remainder of your term. Fondue dinner and entertainment at Swiss Marmite restaurant for members and nonâ€"members of the Single Women‘s Information and Support Centre of Halton presents Starting Your Own Business, with Deborah Dennison, 9:30 to 11:30 a.m., Women‘s Centre, Hopedale Mall, Suite 230. No fee. Information: 847â€"5520. Overeaters Anonymous meets 8 p.m., Knox Presbyterian Church, Dunn Street. Information: Sharon, 844â€"9518. UPDATE e e e e oo ooo oo ooo es (Continued from page 7) Burlington Friends of Schizophrenics annual Family Corn Roast, 12:30 to 4 p.m., Hidden Valley Park, Area 9. Soft drinks provided. Information: Peggy, 637â€"0135. (Support group program the last Thursday of each month, 7 p.m. Port Nelson United Church library. Appointment not necesâ€" Oakville Singles Alive and Dancing every Friday, 9 p.m., Oakville Legion, 136 Church St. Information: 842â€"1327. Oakville Legion Branch 114 hosts Bingo, Mayfair Bingo Hall, Speers Road, 12:30 p.m. Proceeds to charity. Movie Afternoon at the Oakville Seniors Centre, 263 Kert St. Grumpy Old Men shown at 1 p.m. Closed capâ€" tioning. Free to members. Oakville Family YMCA Day Camp Parent/Children Night, 7 to 9 p.m., Bronte Creek Provincial Park. Talent show followed by Penny Carnival. For families with children in a Y day camp program and those who don‘t. We‘re now open Saturday at 8:00 a.m. and on Sunday at 9:00* a.m. *Where local byâ€"laws permit. Classic Odysseys provides unique events for singles. Casual and fun evenings of progressive euchre, bridge or backgammon at Chaps, Oakville Town Centre II. 6:30 to 7:30 p.m. social hour followed by games at 7:30 p.m. sharp. Beginners welcome. RSVP, Classic Odysseys, 257â€"2733. Gourmet. Also Montreal deli dinner at Biggalo‘s on Aug. 23rd. For reservaâ€" tions, call Rhoda at 905â€"819â€"0018. The Oakville Y has a Seniors‘ Day Trip to Bracebridge, with lunch at the Aston Villa Resort, 2 1/2â€"hour boat cruise aboard the Lady Muskoka, and a visit to the Chocolate Factory. For inforâ€" mation about this and future trips, call Ivy at 845â€"3417. sary. Confidential. Information: Peggy, 637â€"0135) MADD Halton (Mothers Against Drunk Driving) holds fundâ€"raising Car Wash, 9 a.m. to 4 p.m., Petro Canada gas station, Trafalgar and Upper Middle Road. Proceeds to MADD‘s community projects to reduce impaired driving on our roads. START YOUR WEEKEND WITH A NEW Kmart SALE! ANNOUNCING NEW CONVENIENT SATURDAY TO FRIDAY SALE DATES BEGINNING SATURDAY, AUGUST 6, 1994 (905)301â€"4883 Mia.c syeten® * ELectroniic Air * HumibiFiers * BoiLeRs * FIREPLACES i\ UV !I'.' Children aged 7 to 12, and their mothers, are needed daytimes in August for a study on kid‘s food likes and disâ€" likes, at Erindale College. Children will taste foods, so children with food allerâ€" gies are not able to participate. Mothers with one or two children in this age cateâ€" gory welcome â€" however, no babysitâ€" ting is available for younger children. Overeaters Anonymous meets 8 p.m., Knox Presbyterian Church. Information: Sharon, 844â€"9518. Oakville Legion Branch 114 hosts Bingo, Mayfair Bingo Hall, Speers Road, 12:30 p.m. Proceeds to charity. Bronte Legion Branch 486 ladies auxiliary hosts Bingo, Mayfair Bingo Hall, Speers Road, 6:30 p.m. Proceeds to community, religious and charitable projects. Red Cross Blood Donor Clinic, 2 to 8 p.m., Hopedale Mall, Rebecca Street. Oakville Museum hosts Walking Tour of Old Oakville with guide Dick Marshall. Two hours in length. Cost: $10 which includes a tour of Erchless. Proceeds to Erchless Restoration Fund. Tour leaves the Museum, Navy Street, at 2 p.m. Information/tickets: 845â€"3541. NDAY AUGUST 22 Must be a (see ‘Update‘ page 13)