The Daily Alaska empire Newspaper, June 3, 1936, Page 7

REPRODUCED FROM POOR MATERIAL SINGLE MORTGAGE SYSTEM * HOUSING BAROMETER May 20, 1936 The total amount of business reported to date by private fi- nancial institutions under pro- visions of the National Housing Act is as follows: 2 Number of insured modernization loans 1,045,685 Amount . $3177,425,036 Number of home mortgages accept- “#4© ed for insurance’. 70,378 £ Amount .. $283,874,406 JUNEAU Shattuck Building R TR CASH Purtiand Cement Finishing Cement Edrly Setting Cement Stuceo Cement Fiber (Hair) Hardwall Plaster Finishing Plaster Metal Corner Bead Wire Fabric Lath Metal Lath Wood Fiber Lath Wood Fiber Wall Board Lump Lime b Hydrate Lime * / Galvanized Thimbles, 6, 7, 8, 10, 12-inch Fireplace Dampers Fireplace Cleanout Doors Conerete Sewerpipe, sizes 4 inches and up Concrete Sewerpipe Ys, Tees and Ells; all sizes Concrete Chimney Blocks, firésafe and well made Concrete Chimney Tops i Qe LOTS OF LOTS NICE ONES———TOO0! Casey-Shattuck Addition --.Gold Belt Addition " A GG 3 LA W OINF S 1 fegRg "’{IE.*DAILY.ALASKA EMPIRE;: DAY' ' :3;:1936. mmmnmmmmnmnmmnnnnmrmnmmmmununfimfiflumumflflnliuuilI'ilinmnimlmuiliihifluiiiim|nnunumunluunnu|i|11i|iui1uul|l||l||||mllmm'mmmn FEDERAL HOUSING MORTGAGE I’LAN AGAINST OL l) STYLE . ,FlNAN(,lN(- PLAN FOR A HOME (‘OSTIN(: $1,250, WITH $1,000 IN MORTGAGES FHA Mortgage $1,000, 20 Year 5%, 5% Interest, 4% Service Charge, §660 First Mortgnge, 6% Interests- sm Second 15% Mortgage Insurance Premium Mortgage; 8% Tiitefest” ' Actual Mortgage Charges (monthly): Actual Mortgage Charges' (for entire period) : 5% interest and amortization $ 6.60 Intérest on first' mortgagé for 20 yém $792.00 139 service charge (average) 24 Comnmiission paid ‘ to obtain . first' miort- 2% mortgage insurance premium .. 2 gage and to refinance every 3 years at ks, 3% each time 7 B L 4534 134,60 Total o $7.26 Interest on second mortgnge Ior 4-years 17061 Estimated Additional Charges (monthly): Setond mortgage principal repflg in Taxes $ 2.08 four annual installments '’ . £ L. 340.00 Hazard msumnce premium 58 Commission paid to obtain second mor!~ Water rent 1.00 Bgage, 5% Arnita, " 17.00 Total 3.66 Total payment ' for 20 years 1‘358.21 el Annual average edmeensitti e $67.91 Total Monthly Payment 10,92 SAVINGS UNDER FHA PLAN OVER 20 YEARS Monthly payment $ 932 $ m Extra monthly cost of FHA pinn ¥ 1 Total extra monthly cost'of FHA plan for 240 months 384, Balance due at end of 240 months ... 660.00 Net saving with use of FHA plan ($660-$384) ... - £ % 21q The above tables are the first-of a serles of 5 contrasting theé costs of financing homes—eosting' $1,250, $2,500, $3.750, $5,000, and $6,250 respectfully—under the Federal Housing mortgage system and under the oid style mortgage system. A saving of $276 is shown for the owner of & $1,250 house with a sinhgle 20-year' ‘'mortgage, insured by the Federal Housing Administration, over what he 'would have had to pay over the same penod wllh a series of first and second mortgages maturing every three and four yéars, respectively. This 18 the $1.200 %6 §1 .Sfl e Mnfl by the Fed Besides,- under the Federal Housing financing his mortgages every three or four years. For his only obligation is to meet the smal 'pa t of $10.92 each.month in order'to have his home in'fe¢, free of all debt, at' the end of 20 ‘years.: The ‘gitimated charges for tax, hazard insurance, and CUT FLOWERS AND POTTED PLANTS' FOR BEAUTIFYING YOUR ROOMS Trees, Shrubs and Plants for Beautifying Your Yard FLORISTS PHONE 31 Seatter Addition or TERMS Co-operate with the FEDERAL HOUSING ADMINISTRATION and Beat the rent game . . ... . ALLEN SHATTUCK ——Since 1898—— YRR s 'FOR EVERYTHING IN 'rfit BUILDING LINE, SEE | GEK Degler in Heavy Building Materials ! GENERAL CONTRACTOR WE ARE DEALERS AND CARRY IN STOCK— Fireplace Ashdumps Firebrick Fireclay Pressed Brick (for mantels) Hearth Tile Tile for Floors and Walls Asbestos Wall Tile Stucco Wire ¢ Reinforcing Steel, 1- 4 to 1 1-4 inch Wire Mesh Reihforcing Expansion Joints Waterproofing, integral and brush coat Johns-Manville Asbestos Shingles Finishing and Mortar Sand Soft Sheet Copper WE MANUFACTURE AND SELL— Concrete Chimney Bases Concrete Culverts Footing' Blocks Building Blocks and Bflck o! the standard masonry unit sizes Concrete Sills and Lintels Burial Vaults KRAUSE ViEbginng ;% | v ¢l § Y |||lIIilllllIIIIIIIIIIIIIIIII!HI‘IIIIIIIIII“IIIIII"IlIllllllllfilllll'l}’zll|lllilllllI Illllllllllllfllflllflfllll“ PR 0Old Styie Plan to Finanee $1,000 ,Monthiys Bverage.. i.v........4: Estimatéd ‘Auditional cmm (mpn Takes, hagafd. insurance premium; rent (same as in FHA example] Total Monthly Payment : (average) - i [ ? ¢ mortgage system, the owher saves the trouble and anxle bf ré- eral Housing Administration, “In this house livitg " 3 atcol modations are cut to the barest minisitm ‘onsistent with water rent vary of course, in dmerem localmes decent living. ' The commbination “'M Foommdi Yopn- 5 Kkitchen has its componeht plru ‘well separated so that no L g of on¥ interferes with' arothér; - The bedrooms'are of ample S -7"_‘%‘7 T e A i sine and have géod closet spate.”The bathroom is con- 3 : venfently ‘loéated ‘for privite sccest’from the bedrooms. 3 Thé sitmple ¢léphoard’ o shingle elevation with the p! 2 ¥ -y i ‘pitéhed roof is inexpensive, snth st thesame time its hortest simplicity' gives it ‘an‘attraction that iy satisfying! :t should_be reproduced at & cost ranging ltol $1,200 to 1,500, -4 WY MII.LWORK MAKERS OF FINE CAB Estimates Furmshed Satistaction Guqranteed We carry PLYBOARD Moulding.and.. Finishing Lumber Also .the New, Ultra Vietwy S i¥iviow LUMBER AND BUILDING fiifl'finih. Glass B . FRANKLIN ST % T o e pb s at SECOND CONSULT US FOR FINANCING OF HOMES UNQER TITLE NO. 2, FEDERAL HQUSING ACT - o v e o Telphone 62 § Heduces your (qel bills, an bmmifiq- you; We carry o complete. stock or 'mi‘netii del ' ex TEMPERED HARDBQARD—HARDBOAHD T}LE PLASTERBO —FIR FLY DOORS—WIN OWS-—G PAINT Ask for the CELOTEX BOOK .f%@dfl-?%ng l-lardware Co. QUALITY LUMBER ALASKA SPRUCE—HEMLOCK-L—CEDAR A g PROMPT SERVICE 5 fp < iyt LUMBER FOR EVERY PURPOSE UL : Bu1ld with WOOD for PEHMANENCE ~ H. B: FO8S coinrmnr" Ki-’éht"écfs anid Contractors ': i1y PLh Aok old nm National Bank Building Iunecu Alaska R T L LT o P T TP P O]