Newspapers / The Carolina Times (Durham, … / July 25, 1964, edition 1 / Page 22
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There'Ss no home like your own.. and no place to finance your home like our association Vost families want a home of their own, and we are ready to help you own yours. Insured Savings and Loan Associations like ours make more home loans than all other financial institu* tions combined. Stop in and see us about a home Joan that is personalized for your budget! MUTUAL SAVINGS AHD LOAM ASSOCIATION 112 Parrish St. Durham, N. C. THE CAROLINA TIMES—Saturday, July 25,1964—10 Mortgage Money Is Plentiful Mortgage money is the key to buying a home—and it is easy to obtain. Savings and loan associations and other mortgage lenders have record deposits of money on hand, There is competition among leaders for mortgage investments. Interest rates favor the home buyer. The Government has two pro grams to help Americans obtain loans for the purchase of homes. One is the FHA pro gram. Under it, the Federal Hous ing Administration insures re payment of mortgages it ap proves. This has been a tre- Electric Ranges Greatly Improved The new electric ^nges cook rings around the rest. With their automatic timers and heat ccsitrols that are simple to use, their fast heat, and built-in cleanliness, they make cooking more fun and less fuss. Since the various electric ranges have different special features, its a good idea for the homemaker to sIk^ care fully for the model that just right for her and her family. Here are some of the features to look for: I. Automatic meat probes eliminate guesswork in cooking, tell you when the roast is done. Set the control to the tempera ture you want, insert the probe into center of meat, away from bone, gristle, or fat. When meats done, a buzzer will sound, or on some models, heat is autonatically turned low to keep meat at serving tempera- tue without futhe cooking. A oast can be kept ae and juicy roast can be kept rare and juicy ture without further cooking. A for hours. 2. Among the many easy-clean ing features of the new electric ranges are oven doors that lift off to be washed in the sink. Other oven doors drop down ver tically to make cleaning the oven easier. 3. E)ouble ovens give twice the convenience, double the capacity of single ovens. Complete insula tion makes cooking cooler, keeps heat inside oven. Windowed doors and interior lights let you see what’s cooking. 4. Some surface cooking ele ments adjust heat to a 4-, 6-. or 8-inch area at the push of a but ton, for use with any size pot or pan. These units also maintain pre-selected temperatures from a low simmer to a high boil by cycling the heat on and off dur ing cooking. mendous green light to home ownership. The Interest rate o£ FHA-insured mortgages is 5y4 per cent, plus a hi per cent in-*’ surance premium. Another similar Government program to aid home buyers is that of the Veterans Adminis tration. It guarantees repay ment of 60 per cent of a loan made to a home buyer or $7,500 of the loan, whichever is less. The interest rate on VA-guaran- teed mortgages is SVi per cent. There is no premium. All other mortgages are known as, the conventional kind. They are obtained on terms agreed upon between the home buyer and the lender. Interest rates fluctuate according to geographi cal area and the amount o£ money a lender has for mort gages. Your home builder will ex plain the advantages or disad vantages to you of any of these types of loans. The Federal Government through its tax benefits, has created a climate favorable to home ownership. Interest pay ments on mortgages, and real estate taxes are deductible on income tax returns. This is a significant saving, especially in the first few years of home ownership, when interest is a substantial part of monthly pay ments. Later, as the mortgage is gradually reduced, the interest becomes a smaller and smaller part of the monthly payments. But throughout the life of a mortsage, the amount paid out in interest is deductible. , Would You Like To Own Your Own Home! ONE OF OUR RECENTLY BUILT HOMES—NOW THE RESIDENCE OF DR. R. E. KING THEN LOOK NO FURTHER-WE HAVE HOMES TO FIT EVERY ONES NEEDS IN HILLSIDE PARK ★ HOMES OF DISTINCTION ★ FROM $2200.00 UP ★ BUILT TO YOUR SPECIFICATIONS THESE QUALITY HOMES BUILT BY SREENBERG CONSTRUCTION CO. ALLENTON REALTY, Exclnsive Agent GREENBERG ACRES NOT EXPENSIVE — MANY UNUSUAL FEATURES — PARQUET FLOORS, CERAMIC BATHS, PANEL KITCHENS. $1299.00 — $1399 DRIVE OUT TODAY OR CALL l-EMT-ON REALTY & INSURANCE CO. PHONE 684-0143 123 Orange St. Durham, N. C.
The Carolina Times (Durham, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
July 25, 1964, edition 1
22
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