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a a EE a re PAGE EYCHT THE DAILY TIMES-GAZETTE SATURDAY, MAY 15, 1948 PLANNING ON BUILDING OR RE-MODELLING? oi 7: k This Builder's Page for A I Your Needs! =mmmmssssessas INSURANCE eso is Our Business! We Handle Al Types! ® LIFE e FIRE eo AUTOMOBILE ® FARM INSURANCE, etc. "We're. Ready and Willing to Advise You"! R. CECIL BINT INSURANCE 67 KING ST. E. PHONE 92 NATIONAL HOUSING ACT LOANS 41% [THE NELSON| 839 SEPT. 47 The Finance End of Home Building One of the first considerations in connection with building a home is the arranging of the mortgage. tual cost bf the building. They are repayable over terms as long as 15 years on a monthly repayment is, There are three types of mortgage | bas money on the market for this pur- pose. "Type one is the private loan which carries the highest rate of interest, usually 5%% to 6%. This | mortgage money is often arranged by lawyers or Trust companies who have Estate funds to invest. Al- though not so rigid in requirements as to location, construction, and age of the security, this money is usually loaned only on a 50% or less amount of the sound value of the completed building. "Type two is the ordinary comp. any loan at 5% interest. You will see this mortage money advertised regularly. If you wish to take ad- vantage of this lower interest rate, you should be careful to have your land area approved by the lending company before you buy it. You will also need at least a draftsman's blueprint of your proposed build- ing. Company loans are being made "Type Three the National Hous- ing Act loans, are by far the most | popular today. These loans are real. ly "joint loans" in as much as the Dominion Government and the var- ious lending Institutions each put up apart of each dollar of the mortgage. The interest rate is 4% % and the term of repayment is up to 30 years. To get an N.H.A. loan the procedure recommended is (1) Take an option (don't buy) the lot on which you'd like to build. (2) Secure a plan (blueprinted) either from the loaning agent, an architect, or a draftsman. (3) Havé a builder es- timate your cost. When all three steps have been taken, consult one of the advertised local N.H.A. representatives. From here on, your agent should be able to guide you as to acceptability of location, plan, and price. Some agents advertise a com- in accomplishing gll of the neces. sary steps with a minimum of ef- fort on your part. One of the Questions most often asked about N.H.A. loans is "how much can I borrow?" This can only be answered after studying your land, specifications, and blueprints, The N.H.A. was designed to help Canadians get housing. A higher loan is given on a house where the value is put into usable .loor area than where the value is put into luxury fittings. There is no set loan related to contract price. There is a table of loans related to "Lend- ing Value." Another question often asked is "what will my monthly payments be?" Again each case must be con- sidered individually cince age and income of the applicant have much to do with the setting of the re. payment figure. Many Canadians feel that they should be able to arrange a morte gage under N.H.A. and then con- struct, or sub-contract the construc. ORDINARY 5% LOANS w-- Real today on about 50% to 55% of ac- | plete service which will assist you Estate and Insurance be] Masui "A Complete Property Service" When you Plan to build, let our Experience help you to: Select a Good-Lot DEVELOP A PLAN to Suit You The Integrated Housing plan is off to a good start this year due to the good weather. ESTIMATE Your Cost GET A CONTRACT Arranged Plan now to buy one of these modern well built brick Arrange for any loan you need Test your plan with our "Plan Testing Service" homes. Select yours now and and watch it grow. (Priority Power $500 Shoickd " of purchase to Veterans of INSURANCS World War 11). (Continued on Page 9) } 1 FINISHED ATTIC PLAN THE NELSON. TF] RST. FLOOR. PLAN ° THE NELSON plan here, or, by leaving out the partition be- tween living room and front bedroom, might be built with an oversized living room 22x16. The smaller downstairs bedroom might be a dining room and all sleeping confined to the second floor. Or, it might be a study. Or, the second floor may be left unfinished and the house built as a four room bungalow. There are numberless THE NELSON--Flexibility is as important to a house plan as to an elastc band. In the design of The Nelson, the architect has achieved the utmost in flexibility so that the plan may be adapted to fit the varying needs of families of different needs and tastes. First, it is a small house that looks much larger than it is because the garage is turned end- ways and a grand porch placed in front of it. It may be a two bedroom, a three bodroom or a four bedroom house. It may have the conven- tionally sized living room shown in the floor Realtors E 6 SIMCOE ST. N. PHONE 4400 Electric Wiring! oD tic @ Ci o Industrial "See Us First For Free Estimates" possibilities, Architect's blueprints and specifications may be had from Housing Plan Service -- 140 Nassau Street -- New York 7, N.Y. -- for $7.50 per set. HILL-CORNISH ELECTRIC Electrical Contractors ® Industrial and Domestic Construction and Maintenance WIRING and SUPPLIES Phone 341 50-53 Prince St. -- Oshawa LOCATIONS. You Have Five Excellent Districts. From Which to Choose! MARY STREET ow tom CENTRAL PARK BLVD. HIGHLAND AVE. CADILLAC AVE. LA SALLE AVE. SOUTHWAY GARDENS. sare st. Bowmanvite YOU TOO!...Can INSURE with MURDOCH'S Insurance Service 234 SIMCOE ST. N. PHONE 2928) Near the "Motors" in the north east section. Extending this new street from Athol St. one block south. PHONE 124 Between Athol and Eulalie, a restricted area. 300 ELMGROVE OSHAWA Immediately! South from Athol Street, a restricted area. HighestWages - SteadyWork 1065 . TRAVELL 'WE ARE AS CLOSE AS YOUR PHONE' 216 CENTRE STREET PHONE 1268) Thinking of Building? -- See -- ALEX VAIDA GENERAL CONTRACTOR Experts in the erection of COMMERCIAL -- INDUSTRIAL DOMESTIC BUILDIN GS LEVY'S FLOOR SERVICE ® LAYING ® SANDING ® FINISHING 01a Floors Made FlOOrs Like New! Put your Sawing into'a New Home Down Payments Start at $11 50 Monthly Payments Start at $25.20 Models. : There is a broad selection of models, each one planned for maximum use of the space. There are four room and five room bungalows; 11 storey homes with 6 rooms and regular 6 room homes. 90 You dct Soon -- You will be able to arrange for any "extras" such as a fireplace, If you delay, construc- tion may have gone beyond the point where your extra could be installed. Dhione 4400 cho field our INSURANCE ome Agency Bldg. Realtors When It's Electrical Phone 460 C.K. CAMERON EtectriC 122 WARREN AVE, -- OSHAWA Repairs and Alterations Also Done ALEX VAJDA 481 DREW STREET PHONE 4117W 20,000 'CINDER BLOCKS For Immediate Delivery -- also -- 4" x 7' CINDER BACKUP TILE -- also -- ® Concrete Blocks all sizes in stock! ® Flue Linings @ Stove Pipes, etc. RUBBER and MASTIC TILE laid. Estimates Free! Guaran. teed Work! ® Electrical Contractor (Domestic & Industrial) ® Complete Wiring and Repairs ® Water Heaters Installed ® 24 Hour Trouble Service a. (Successor to B. W. Haynes) Kingston Rd. E. Phone 16174 LJ (Construction : LJ All of the contractors are Oshawa men with a reputation to keep up. They have years of building experience behind them and know their work. National Housing Act specifications are fol- lowed Shroug ow, These h leted, will be ready to move into pe plas living the life you've always wanted with "a home of your own." / You Can Seo -- the detail of construction, shown with a slide projector, and get full infoimation about prices, specifications, and locations of homes by calling at re --_|me, EXPERT CARPENTER WORK and Builder! % ALTERATIONS % REPAIRS % REMODELLING to Stores, Etc. i Call Us For Estimates PHONE . 2464) W. F. MERCER 149 Alma St. -- Oshawa HOME APPLIANCES Headquarters in Oshawa for Domestic and Commercial * FRIGIDAIRE REFRIGERATION * AIR CONDITIONING SALES & SERVICE See Us "First" Telephone 690 90 SIMCOE ST. S. OSHAWA 6 SIMCOE STREET NORTH Phone or Write IF. E. PANES 554 Merton St., Toronto -- Phone MO. 3786 R----