Winnipeg Free Press

Winnipeg Free Press (Newspaper) - January 8, 1995, Winnipeg, Manitoba B2 Winnipeg free january 1995 mortgage Maze can bewilder Home buyers finding the right House is the easy part so you just bought a took a wad of Cash from your pocket and gave the seller 100 right didst think if youre like most buyers in can you have to finance your new House with a and getting a mortgage can be a confusing of while theres no magic key to in shackle the Ball and there Are several ways to make paying a if not at least a Little the first decision is How much of the houses Price will the mortgage conventional mortgages Coyer 75 per cent of the Purchase Price High ratio mortgages cover up to 95 per the remainder is the Down financial planner Lyle president of the Manitoba chapter of the Canadian association of financial said it can be tempting to put As much Down As keeping the mortgage but dont be too he unless youre on the borderline be tween High ratio mortgages and conventional Only put As much As needed at rules Al Low firs time buyers As Little As a five percent Down payment on houses Worth up to in win other buyers can put As Little As 10 per cent Down for most hous expenses if i had to put Down on a House but Only had to put Down id put Down and keep the he then next if i still had that id put it towards the Mort that beats putting every Avail Able cent into the and then running up the credit card with move in expenses like furnishings and people who Are close to qualify ing for a conventional should try to scrape through with a 25percent Down payment and save on the insurance premiums needed for High ratio he the next Choice is from whom you will most Trust credit unions and some insurance and financial services companies offer picking the Best interest rate is probably most followed by terms for prepayment and re which May be important for longer term interest rates on mortgages vary based on the length of time covered by the mortgage called the and the underlying National economic the term is different from the the term sets the length of time a Borrower will be bound by the interest and payment provisions of the amortization refers to the length of time used to determine monthly pay most mortgages Are amortized to be paid off Over 20 or 25 since most terms Range from six months to five once it has sex a Borrower either must pay the balance owing or renew the mortgage for another Royal Banks Ian Campbell said choosing a mortgage term should be based on How comfortable you would be knowing your mortgage payment could fluctuate and on your Outlook for interest if the budget cant stand any in go youll pay a Price for that stability in the form of higher interest but youll have peace of mind knowing your payment is fixed for that he terms Range from six months to three and five years and As High As 25 that for the ultraconservative person who wants to be absolutely assured what their payment will be throughout the life of the Campbell said of the 25year but Atkins disputes the notion of paying More for youre telling me that Cash is but you Are volunteering to pay extra each month to the Bank that Doest make he using recent Atkins said a mortgage with a five year term at 10 per cent costs each a six month closed mortgage at per cent costs per go Short Atkins says most everybody should go to Cushion against rising he said take the difference from his example and save it each totalling after a if that Money can help top up payments if rates if it int that Money is now not the Atkins said in almost All going Short will mean less in the Lon term Cost of the regardless what happens with Mort Gage after the term and the amortization has been the next decision to make is How frequently the mortgage will be the least frequent option available to most people is on a set Day each the full monthly payment will be Joe free press when an owner is found for this nearly finished he faces several mortgage but accelerated say biweekly or can shave years off the the big Gest bang is moving from monthly to where 26 Halfway ments Are made each com pared to 12 full the effect is paying 13 monthly payments in a its a lot easier than coming up with an extra payment at the end of the Campbell Atkins said that but he adds that making More mortgage payments while sacrificing the Chance to pay Down other debts or make resp contributions is a false if you became which would you rather on a mortgage and in an or on the mortgage and in the resp he id sure As Heck want on a mortgage and in the because that would make my mortgage payment for diamonds on file Best Friend by Gene Austin w r Hen there on a diamonds can be a Best a new Type of with Diamond particles As the can handle a much wider variety of smoothing and sharpening jobs than can Ordinary steel Industrial Quality diamonds Are used in manufacturing the so the Price is i recently paid about for a file set including three interchangeable Blades with medium and very Fine since diamonds Are the hardest natural even super hard materials such As Carbide tipped tools and Hig Carbon steel can be among the Many other materials that Diamond files will Sharpen or smooth Are All types of steel including knives and axes Glass Ceramic tiles Marble Wood plastic laminates such As and the Diamond coated made by Edge Craft of Are sold at a number of Home centres and hardware stores including some Sears Edge crafts file set includes a comfortable handle and Blade Holder about 12 inches the Holder has a magnetic surface that grips file Blades the thin Blades feel much like sandpaper on the abrasive Diamond files dont Load up or As steel files often and any residue that does remain on them is easy to rust and sawdust that got on the file during my tests wiped off with a paper id like the Blades if they had a Small Hole in one end so they could be Hung on a pegboard q Sqq publishers of Doit yourself books have turned out an unusually Fine selection of books for Winter following Are some capsule the books Are sold at bookstores or can be ordered through Many Book dealers who dont have them in Stock the family Handyman easy repair us readers digest offers Over 100 simple solutions to the mos common household this based on articles from the family Handyman tells How to handle such emergencies As a clogged faulty electrical switch or Loose chair also covered Are Many maintenance jobs such As Patching replacing shingles and cleaning a water each project is illustrated with Sharp color photographs and includes a Toolan materials this is an excellent Book for homeowners seeking Basic installing repairing plumbing by Peter hemp us Taunton this is an i depth treatment of Home written by a master it includes an interesting Section on selection and use of plumbing including the versatile Monkey wrench and plumbers Helper also known As a Force cup or another useful Section describes and evaluates the materials used to make plumbing and tells How and where to look for defects when buying the chapters on installing and troubleshooting plumbing and plumbing fixtures Are As Complete and Clear As any Ive and Are Well illustrated with photos and cabinets and by Paul Levine us Rodale the subtitle of this a practical guide to building professional Quality is a Good description of the the 14 projects Range from Kitchen cabinets to a Large breakfront and entertainment planning your getaway by Alvin Kre Liazuk we All enjoy going on but it be great to have that vacation every Day invest in a year round private getaway for your family and friends and relax every Day at Home in your own a spa can make your Home More valuable today and for a future two out of three Consumers who own a spa or Are thinking of buying one believe it will increase the value of their when considering it is important to think of How you will use your for you May want a larger if you Are considering a private a smaller spa May when shopping for a be sure to keep your lifestyle in whether your new spa is for indoors or the amount of construction or renovation involved is left to be determined by your indoor spa May require nothing More than placing your spa in a spare room and connecting the electrical following local electrical if your new spa is purchased for there Are various ways of designing it to your deck with a Little planning you can turn your backyard into the vacation Par Adise you desire if youre the Type of person that cant wait any than a portable spa is for they can be used practically the Day they Are delivered if you take it with you All of the spa including heating and filtration Are enclosed in the spa so theres no extra plumbing equipment just put your spa in connect the electrical As per local electrical fill with a Garden Hose from your outdoor Lawn and your installation is Alvin Krev Muk is general manager of Kravco ready to go spas the perfect family gift i 700 Berry at Sargent in Walsall 4 financing 7866957 Uncle pays a visit by Rob Baldwin q Uncle Norman was this years Christmas he stayed for four broke three Burnt two and cracked a leg on my new dining room what can be done to fix Normy a Normy has made quiet a few stops Over the holidays and it looks like he is getting All the blame this whether your problem is a tired Spring that finally Given out at the most embarrassing or the self conscious smoker who was Given the Christmas gift of smoking accidents and Wear and tear dont take broken Springs in a sofa or chair Are like Flat never want know youre going to get and cant ignore it once it the big difference is that one Flat tire wont give you three More a broken Spring when one Spring lets go it forces the remaining Springs to carry the the extra Strain will prove too much for them and eventually they will fail As its always better to solve a prob Lem Early while its a table top Burn or water wring Doest have to be the beginning of the tablecloths and doily Burns and other damage can be repaired with help from a quite often its possible to repair the damaged area without having to refinish the table it can be done right in your own and at a fraction of the Cost of a cracked leg on a wooden chair can usually be repaired As Good As if you have the proper equip you can do this Job with glue you have the Opportunity to get it take your sooner or gets a visit from Uncle in afraid i cant do anything to fix but next Christmas were All going Over to his Rob Baldwin owns thai furniture Guy furniture Guy cflll992 2468 in Home Fuh Nituna ii his if its use fix it Why an you fitting on broken Springs we repair them right in your for free mansion has a catch take it its yours Price by Carol Lewi Bohannon fort Lauderdale Sun Sentinel Gulf what do you do if you bought a Man Sion for million and you Arent Happy with its hidden Hardwood floors or mural led Ball room you give it Paul and Jackie Lee Manove Are offering their mansion for but theres a it will Cost at least to move it and perhaps much More to bring its antiquated features up to today considering this years appraisal for the that might not be a Lucra Tive the built in 1927 in this sex wealthy was one of the towns first mansions and a the 16bed eight Bath Structure is now workout and too old fashioned for its new costly renovations they want to build a new Home on the which was assessed this year for its nothing we want to live in in this Day and but we dont want to just throw it said Sibisan the couples daughter we if someone could use the seasonal residents from California who own a Box maj i a factoring estimate would have to spend million renovations if the shaped House remained on the its but not very Pren Susan Manove it does i look like a Beautiful it looks like two families feuded and put up a anyone who agrees to move the House also would have trouble Ting the necessary said Mike owner of a Boynton House mov ing Trees trimmed Trees lining state Road a1a would have to be trimmed or Cut Down to accommodate the Adair its too big and too he the cheapest alternative demolition would Cost the Mal Noves about but also would cause it would be a traffic said Martti manager of Shaw trucking of Delray you would have 45 loads of de dump fees alone would Cost about ;