Financial news FIRST IN A SERIES Those confusing mortgage terms defined for you INANCING HAS always been a key in- gredient to any real estate transaction. Because real estate is a big ticket item, few people are able to pay cash. The alternative is a mortgage. But, before one can talk about mortgage options, one first has to unders- tand the language. A Mortgage is simply a loan. As additional security for the loan, the borrower zises the lender a charge against the borrower's property or real estate The Mortgagee is the lender, usually a financial institution The Mor- By JAMIE JOHNSTON tgagor is the borrower; usually the home owner. The term is the actual length of time the original loan is in ettect. Most mortgage terms are trom sis months to five years The Maturity Date ts the tinal day of the term, at which time any unpaid balance of the mortgage loan is due Erequentls, the mortgage loan 1s renewed and refinanced at that date. The rate is the tnterest rate charged on the mort- gage loan. The most com- mon method of calcula- tion 1s semi-annually, not in advance. Unnul recently, the in- terest rate was fixed over the term of the mortgage, but with variable-rate mortgages, the interest rate can change every month, while the term can be for several years. The Amortization Period is the time required to retire a loan by a series ot equal payments, made up of principal and interest ‘B21 - Friday; September 7, 984 =‘ Nurth ’Stote News ADMIRAL ——_ REMY Tbb 706 EAST 7th STREET 1904 PETERS RD. Your best priced New Home!! ($140's) on 515 x 119 foot level lot, 3 bdrm | tamity rm | en- Suite. full basement. double garage, THIS WON'T LAST — SEE IT NOW!) JIM FRASER 984-0421 (24 hrs.) 2258 MAGNUSSEN PLACE JUST LOOKS EXPENSIVE Spacious new 4 bedroom split ievel, den and sunken tamily room off kitchen Never a better time to offer than now BOB FLETCHER 986-0660 SOREN FREDERIKSEN 984-0421 (24 hrs.) 984-0421 NEW HOMES OLD PRICES WE TRADE! 3434 DUVAL RD. MUST BE SEEN Solid new four or five bdrm., split level, 22 baths, sunken family room, double garage - all deluxe 12% financing available JOAN ALEXANDER 986-4453 NEW WITH VIEW This 4 BR split tevel is only one of several custom homes being completed in our deluxe inlet Subdivision We can build to sult at very reasonable prices Please cali SOREN FREDERIKSEN 984-0421 (24 hrs.) 340 W 22ND eee CENTRAL CITY — VACANT! HERE COMES DE JUDGE... Just listed, this 3 BR, fully finished bsmt home And he says “SELL. SELL. SELL.” this 3 is neat as a pin! Loads of financing, loads of ac bedroom Capilano College townhome! End unit comodation (inlaws) Try $119,500. or try your with sunken living area !/p and panoramic city trade! view Try 90s! SOREN FREDERIKSEN 984-0421 (24 hrs.) -- ee - - Te SOREN FREDERIKSEN 984-0421 (24hrs) ee The silent forest is your neighbour There’s skung at your back door Wooded jogging traits a view clear across the water vetthe cily 1s just Minutes away Here, on the slopes of Grouse Mountain, Andre Molnar has created Spyglass Hill Elegantly designed homes clad in cedar A choice of room plans and intenor designs you'll find nowhere else in the world Set ght. ° ~ DUPLEX SUITE NEW . $120°S Z R11) duplex 270Oned property with home rented Hard to find Dut here we tave two charming t up and dowr Develop of hold as tuture imvest Hew 4S BR fst bomen ah very old fastuoned , myer] Asking $1149 200 |! pores Wee ane titsish teat fast off Nancy Corcone Woo) Pra cel from 5164, 900. BOB FLETCHER 986-0660 SOREN FREDERIKSEN 984.0421 (24 hrs.) 5623 SUMAC PL LARGE HOUSE SMALL PRICE Poe bebe tae A ee BRANT) NEW HOME , L 4 ' hoo pee SOREN FRE OE RIK SEN 984 04271 (24 Kes ) RAE PHILLIPS 522 0387 JOAN ALEXANDER 986 4453 SOREN FREDERIKSEN 984 0421 (24 ro ) be oe \ 1 ee ! oi fer bbe tobeok \ \ Va OO ATL, OANA oN ES , mat 7 7 ED yt Me ay od pa SE EERE | CHARMER IN THE WOODS PAP TO PEAS PONTE E SET YT REE ATE AS "yap NTE @rrre de Ate hr vt dibs power, ' ie laew ” thier rrvqr bee! tha Ficoetiery aaptely Gree . f PONDOUM TD AN ret rE be rn ns as | ° AML VEL ie CONT: Gator: hewihveg oa large pate tot and oa Mera? OD tees eed ort tere trp ean ghicn ah boo Vy . Le . + Terecer ne ‘ dere MAooet wbee dpc al ‘ . . ‘ . | ceseabis die partece tree three, oat mates WV ee de bree cat y a Qertpaprerc) wet on wire ‘ | rasta passed cquiality anid broaalt a lire A Horne on Spy plas . ill "2 oniinbanadieq vatbre Vety pot: ' why Cr oes ey ie ee 9 ae a sag tbareys ul Ye \ . Vn prope ath ats fipyest Ard boest oot all 1 ere | Moolivaas | te Onthy sesertog with Yer sae PAC aed cree There pater ences PPV TUAT VT RPP UN Tae BR uly w 4d | SOREN FREDERIKSEN 984 0421 (24 ra)