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PAGE 24 - HI..UNDEALER - FRIDAY. MAV 8. 1981 WE HAVE SOME GOOD NEWS... ..AND WE HAVE SOME BAD NEWS ; \ ' " ' * ' * • - • ' r i \ " • - . . • " • • • : ' 1 -- The Good News is that McHenry Savings & Loan is still offering Special Financing on Selected Homes, -- The Bad News is that some of them are already gone! They've sold and are no longer available. New construction, 4 bedroom full basement. 2 car garage. ESSEX-COSTEllO 385-7050 Three bedrooms, garage, private lake, tennis cour­ ts. . $49,900.00 ESSEX-COSTELLO 385-7050 Several of the houses for sole that we have listed in conjunction with local Realtors have already been SOLD. Our "SOLD" pictures tell the story. Their buyers got bargains in value and in our special financing (that's good news for them, of course). There are still a great many homes on the market hereabouts. . .many of them on sale for a year or more. Many of them are now priced below their actual value in a desperate Hfort to attract buyers. How long will this unique situation last? We don't profess to have a cryslal ball. But if you have been thinking about buying a home in the near future, now is the time for action. When interest rates once again drop significantly, home sales are sure to pick up. The bargains will be gone and so will the bargain prices. So what about today s interesl rotes? McHENRY SAVINGS AND LOAN has the answer. Until January 31, 1981, we will allow purchasers of homes presently secured by our mortgages to assume the present outstanding loan balance at a rate only 2°o to 3co above current rates. Any additional financing will then be provided at today's rates. Here's an example of how our f inancing plan works: Assume a house selling for $60,000.00 with an existing mortgage balance of $30,000 00 at a 7'/?% 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 loan balance at 9,/2%, and the final $18,000.00 of the new loan at 16'/2 %. The buyer finances his home purchase at an effective total rate of only 12%, which is con> siderably below the current market level. MORE GOOD NEWS. This new loan will be provided in the form of a Renegotiable Rate Mortgage (RRM), which means the present rate at time of closing may go lower in the future. Ultimately, as the economy im­ proves, those with RRM s will benefit as their interest rates can vary as much as '/? % a year. A renegotiable Rate Mortgage is a good deal for anyone these days faced with the need to buy a home But it s an outstanding deal for those who are able to take advantage of our special financing on homes already having a McHENRY SAVINGS AND LOAN mortgage Take a good look here at some of the homes now being listed by local Realtors with our financing. Talk to these Realtors while this opportunity lasts. And watch for the orange seal on FOR SALE signs in this area. This may well be the GOOD NEWS you've been looking for! Ranch Condo 2 bedrooms, 1V> baths, 1000 sq. ft., wooded area, fenced in patio, garage.. $54,900.00 RED CARPET 385-2340 Affordable Forties • contemporary home.. 3 bedroom home, cathedral ceilings. "McHenry schools. $45,500.00 ESSEX-COSTELLO 385-7050 In town 2 baths, Franklin fireplace, aluminum siding and garage. $57,800.00 LAKELAND/HOMETREND 815/459-4810 1 '/> story aluminum-siding, 2 bedrooms, basement, garage, wooded lot. $43,900.00 RED CARPET 385- 2340 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 LTf.n Overlooking Wonder Lake, with lake rights. 6 rooms, wooded. McHENRY COUNTY REALTY. INC. 815-453-2051. HORSES!!! Spring Grove. 8 plus acres. 4 bedrooms, 2 baths, out buildings, income potential. $159,900.00 APPLEGATE REALTY INC. 312-347-4000. McHENRY S A V I N G S McHenry Savings V AND lOAN ASSOCIATION 1209 North Green Street, McHenry 815/385-3000 10520 Main Street, Richmond, 815/678-2061 10402 North Vine Street (Huntley Center on Route 47) Huntley, 312/669-3333 SAVERS HOURS: T:00 o.m. to 4:30 p.m., Monday, Tuesday and Thursday; f:00 a.m. to 1:00p.m. Friday; 9:N a.m. to 3:00 p.m. Saturday. McHonry Office Drive-in windows opan Wadnasday 9:00 a.m. ta 2:00 p.m. Clasad Wed­ nesday in Richmond and Huntlay. Deposits insured $100 000 by the Federal Savings £ Loan Insurance Corp. SNhtylfa t̂nrl̂ ople f McHENRY SAVI MEMBER Federal Savings A Loan Insurance Corp. LENDER