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A 7 REAL ESTATE. ano CLASSIFIED @DVERTISING VOL.2 No.8 - FIRST CHOICE REAL ESTATE - TUESDAY, NOVEMBER 6, 1990 Published weekly by the Port Perry Star oA 139 QUEEN STREET - UNIT 2 PORT PERRY - 985-8041 or 985-8151 FE te Lg MAINTENANCE FREE EXTERIOR FOR COUNTRY LIVING AT ITS BEST! See this well kept home on lot 146x231'. 3 bedroom, dining room, family room, and Florida room. 20 x 40' insulated garage for the trucker or the hobbyist. Listed at $189,900. panes 4 IDEAL FOR THE BEGINNER or RETIREMENT Easy walking distance to shopping. For more information on either property, please call Marj Tripp 985-8041 or res. 985-7606 T0 VIEW THESE PROPERTIES CALL YOUR REALTOR TODAY. . Have low down payment? Try this one! | i Tips on how to pay off house mortgage fast If you're like most homeowners, you eagerly anticipate the day when you make your final mortgage payment. You fantisize about the financial freedom you'll enjoy and what you can do with the money you would normally spend on your mortgage. For most people, it can take a while for this dream to become a reality. But it doesn't have to be as far off as you may think. There are several options available to let you pay off your mor- tgage more quickly. In fact, by choosing a shorter amortization period, when you arrange your morgage, you can pay off your mortgage faster, thereby making substantial savings in interest over the years. In most cases, each mor- tgage payment is blended and is applied to both prin- cipal and interest. At the beginning of a mortgage, the interest portion of the payment is extremely high. But as a mortgage matures, more and more of the pay- ment is applied against the principal. The most common mor- tgage amortization period is 25 years. By shortening that period to 15 years, you can save a substantial portion of money in interest, because you erode the principal amount of money you owe much more quickly. A shorter amortization period means larger payments, but to many people this is a worthwhile consideration because of the long-term savings. For example, a mortgage of $100,000 amortized over 25 years at 13.5 percent in- terest would result in mon- thly mortgage payments of "$1,138 -- and a total repay- ment of $341,409. Monthly payments for the same mortgage amortized over 15 years would be just $136 more or $1,274 -- resulting in a total repayment of $229,347 and long-term sav- ings of $112,062 when com- pared to the 25 year schedule (provided the in- terest rate remained the same for the full amortiza- tion period). While the above figures appear to be fairly astoun- ding, keep in mind that the interest rate will fluctuate somewhat each time you renew a term of your mortgage. Weekly and Biweekly Payments Although most people make monthly mortgage Turn to Page 2 * @he Port Bevoy Shay READ EVERY WEEK BY OVER 20,000 PEOPLE IN THESE COMMUNITIES ASHBURN - BLACKSTOCK - BROOKLIN CAESAREA - COLUMBUS EPSOM - GREENBANK - JANETVILLE LITTLE BRITAIN - NESTLETON PORT PERRY - PRINCE ALBERT SEAGRAVE - SUNDERLAND - UTICA UXBRIDGE and surrounding hamlets & villages. 0) *