WHITBY FREL PRFSS~ WPflNF~rIAV ~FPT1~MnPR I ~ i USM PArI~ ~ i w mm REAL ESTATE NEWS Whitby Free Press Ho use of the Week Famlyhomie offers 13¾3/% Mortgae As you approach 100 Â4pplewood Cres., Whit- by, you'll be impressed with the beautiful Ian- dscaping which enhan- ces the neatly laid brick and angel stone front on this custom built four level backsplit. Notice the aluminum soffitts, eaves and windows making it maintenance free for easy living. Entering the ' home- you'll find a Iight spacious living and dining room with large windows for added brightness, there's har- dwood floors- under har- dtwist broadloom. The eat-in kitchen has many cupboards some of which serve double duty by opening both. sides.' Upstairs the master bedroom has mirror closet doors, there are two other bedrooms, one has (double closets. These rooms are al spacious with room for DOLLAR SEfl$E Mortgage Insurance Plan to offer aid if rates rise Bi Rupert N. Foikard, CA If you got caught renew- ingvyour mortgage back in m'd-1981 when interest ý1 rates hit a horrendous 20 per cent plus, the federal government has a program for vou. li's called the Mortgage Rate Protection Program and it was presented by Fi- nance Minister Marc La- londe in his February 15 budget. In the papers accompan- ying the budget, Lalonde noted that since 1978, mort- gage interest rates had fluctuated sharply, rising to staggering levels in 1981. Dollar Sense offers general îfinanciaj advice by mem- bers of The Institute of Chartered .4erountants of Ontario. Rupert Foikard is with FoIIkard and Company, Chartered Aceountants, Mississauga. "Many families", La. londe said in his budget pa. pers, "faced with renewing mortgages at much higher rates during this period found themseives in serious fînancial dîfficulties or in jeopardy of Iosîng their home". Lalonde's response was the Mortgage Rate Protec- tion Program. Here's how it will work once it's passed mbt law. 0 Eligibility: first mort- gages oniy on principal res- idences onlv -- including single and semi-detached homes and condominiums, mobile homes and an own- er-occupied duplex or apartment. a .Carry-over: anv mort- gage protection still in force when the home is soid .%ould be transferred auto. maticallv to the new owner. Theoreticallv-, the remaîn- ing mortgage protection should make vour bouse worth more on resale. * . Mortgage Limits: max- imum -- a S70,000 mort- gage. *0.Premiums: 1.5 per cent of the value of the mort- gage. On a maiýimumn mort- gage of $70,000, for exam- pie, that would resuli in a premiurn of 81,050. 0 . Effective Date: It is pro. posed that the plan would be retroactive to March 1 , 1984. 0 .Duration of Insurance: double the length of the mortgage period.-Since the premium is the same no matter the term, of the mortgage, it makes sense to go for the longest term vo u can get. Five vears should be considered a mi n imumn. 0 . Coverage: the insurance would only help you with vour increased mortgage payments when vou renew- ed your mortgage at a rate of more than 2 percentage points above v our existing mortgage rate. Further, the insurance would only cover 75 per cent of the increase in the monthly payment above the 2 percentage points to a maximum of 10 percentage points above the threshhold rate when the mortgage was taken ou t. 0 .Renewals: as mn times as vou want until the mortgage is paid off. When the first insurance term ex- pires, you would be able to make a second payment of 1.5* per cent of the out- standing mortgage prinri- pal -- again tri a maximum of $70,000 -- to proit-e vourseif for anotiier mort- gage term. (0f voursc-, the desirabilitv of the- insur- anc-e would decrease as the murigage principal became Iess and less.) bedroom suites, there's hardwood under broadloom here too. On ground level families-will appreciate the two piece and laun- dry room close to the back door. Also on this level you'll find a fourth bedroom or den, ideal if you have a relative or teenager who like privacy. Downstairs the recreation room lias large above ground windows which make it bright and pleasant. You'll be glad of the many storage shelves and cupboards for those out of season items. The back garden is an ideal place to entertain, it has steel privacy fen- cing and cedar hedge, and a huge interlocking brick patio. A large metal shed helps to keep your garage free for yourcar. Extra insulation and some triple windows kept the 1983-84 heating and hydro costs com- bined at $993. Easy access to 401 and Hwy. 2 at Thickson make it great for com- muters. Fo r the besi in CLA SSIFIED ADVERTISING Cal 668-6111 WE'RE THE NEIGHBOURHOOD Ç~ L~ PROFESSIONALS. 8241Brock St. N, Whltby t5~EZTii~I® 668-6221 GOLD JACKET REALTY LTD. member broker (Across from the Curling Rink) TURN 0F THE CEN. TURY HOME. Charac- ter & elegance. 5 bdrms., main f loor family, Iaundry rm., Iovely landscaped property. Nancy Jones 668-6221, 579- 3053. Asking price iS $89,500, a large 13'/4 % fuily assumnable mor- tgage with prepayment privileges until May 1989, make it a very at- trac tive property. To view caîl Lilian North of Century 21 Gold Jac1ket Realty Ltd. at 668-6221 or 668-7479. Applewood Cres. runs off Thickson Rd. S., south of Woolco Mal and north of Hwy. 401. 1 & 2 BEDROOMS LOCATED IN PARKLAND SETTING CENTRAL WHITBY A NEW CONCEPT IN LIVING for 55 and OVER odel suite open for viewing Weekdays9--8, Sat. 10-4, Sun. 1"- *Two Smail6 Storey Buildings e Activity Centre *RentGuaranteedtoi Jan. '86 Alil Utilities mine. ExceptTelephone &CableTV *Outsidc- Parking mncl (416) 666-3220 Ont oftown cali collect 100 Applewood Cres., Whisby 22 rck St.N. Whutby 668-6171 LIZ RAN KIN .Î! MERV PARCHMENT RON JORDAN MARLENE KERR KAY ROGERS The management and staff of W. Frank Real Estate Limited 225 Brook St., N., Whitby are pleased to congratulate Liz Raokin as LEADING SALES AGENT, Merv Parchment as LEADINO LISTING2 AGENT and SALES ACHIEVER, and Ron Jorda'n, Marlene Kerr and Kay Rogers as SALES ACH lEVERS for the month of August. Liz, Merv, Ron, Marlene or Kay would be happy to hear from you for their professional, conscien- tlous assistance in purchasing or selling your home. Please cati them at 668-6171. - - - -- -- - . - - 1 001- ---- -- WHITBY FREE PRESS. WEDNESDAY. SFPTFMRýýR Il l9R4 PACF 11 1 Il ý Il