The Daily Alaska empire Newspaper, July 8, 1936, Page 7

THE DAILY ALASKA EMPIRE, WEDNESDAY. JULY 8, 1936. - i o e i s — IR ED OO 000 A £ E FEDERAL HOUSING MORTGAGE PLAN AGAINST OLD STYLE FINANCING PLAN FOR A HOME COSTING $2,500, WITH $2,000 IN MORTGAGES FHA Mortgage A Home For $2,100 ‘Old Style Plan to Finance )0 R A $2,000, 20 Year, 5% Interest, 2% Service Charge, $1,330, First Mortgage, 6% Interest; Y Socoid i 14% Mortgage Insurance Premium P . Thiade F Actual Mortgage Charges (monthly): Actual Mortgage Charges (for entire period): 5% interest and amortization $13.20 Interest on first mortgage for 20 years. $1,596.00 HA service charge (average) 49 Commission paid to obtain first mort- mortgage insurance premium 83 gage and to refinance every 3 years at s'NGLE " K 3% each time 279.30 Total $14.52 Interest on second mortgage for 4 years 139.15 MORTGAGE Estimated Additional Charges (montvly): Second mortgage principal repaid in = Phae $ 417 four annual installments 670.00 v SYSTEM Hazard insurance premium B} Commission paid to.obtain second mort- Water rent ) 1.00 gage, 5% %358 * b s 6.34 Total payment for 20 years ) Total Monthly Payment 20.86 Annual average 135.90 | Monthly average & $11.32 i Estimated Additional Charges (monthly): Taxes, hazard insurance premium and water rent same as in FHA example) ... 6.34 HOUSING Total Monthly Payments (average) BAROMETER SAVINGS UNDER FHA PLAN OVER 20 YEARS Jusie 10, 1936 0Old Style Financing FHA Financing R Plan Plan . e e Monthly payment $ 17.66 $ 20.86 GERS AN, B Extra monthly cost of FHA plan 3 3.20 reported to date by private fi- - 2 9 S L e S Total extra monthly cost of FHA plan for 240 months 768.00 ance f 240 ’ o hiie ot A ationial -Eeubing Balance due at end of months 1;3'40 00 _0 Act is as follows: Net saving with use of FHA plan ($1330—5768 562.00 The above tables are the second of a series contrasting the costs of financing homes—costing $1,250, $2,500, $3,750, $5,000, and $6,250 respectfully—under the Federal Housing mortgage system and under the old stylu mortgage system. A saving of $562 is shown for the owner of a $2,500 house with a single 20-year mortgage, insured by the Federal Housing Administration, over what he would have had to pay over the same period with a series of first and second mortgages maturing every three and four years, respectively. Besides, under the Federal Housing mortgage system, the owner saves the trouble and anxiety of re- financing his mortgages every three or four years. For his only obligation is to meet the small payment of $14.52 each month 34 order to have his home in fee, free of all debt, at the end of 20 years. The estimated charges for tax, hazard insurance, and water rent vary, of course, in different localities. CUT FLOWERS AND POTTED PLANTS FOR BEAUTIFYING YOUR ROOMS Trees, Shrubs%md Plants for Beautifying Your Yard JUNEAU FLORISTS Shattuck Building PHONE 31 Number of insured modernization loans Amount Number of home mortgages accept- ed for insurance Amount 1,085,109 $386,284,272 g LIVING ROOM (o s 153, o KiTCHEn 71,383 et $311,387,403 KRAFFT’S : TH e ol - SECOND FLOOL This is House C, shown in the Federal Housing Administration’s Technical Bulletin No. 4, “Prinels c ABINET ples of Planning Small Houses.” It is simplicity itself, with a certain charm derived from its very lack of pretcnsion. The rooms are of good size and well proportioned and lend themselves admirably to furs nitars placement. Without the cellar, the utility room provides ample space for both the heater and Kitchen Cabinets Y e e— . S i e R the Isundry trays; and the unused wall space could be equipped with shelves to hold the preserves and canned goods, The dining alcove in the kitchen could have the built-in furniture shown or a table chairs that are movable, and therefore easier to clean, could be used in its place. The bedrooms are w ventilated and have good closets and easy access to the bathroom. The Housing Admiistration estle mates that this house could be erested at a cost ranging from $1,750 to 2,100, UILD NOW! Columbia Lumber Co LUMBER AND BUILDING MATERIAL Screen Doors and Windows Frames and Sash All Kinds of GLASS PLYBOARD and MOULDING Estimates Furnished SATISFACTION LOTS OF LOTS NICE ONES———TO0! Casey-Shattuck Addition : Gold Belt Addition i SR N T Seatter Additio FRANKLIN ST. SNSULT US CINANC o R CASH or TERMS i i S CONSULT US FOR FINANCING OF HOMES UNDER TITLE NO: 2] DERAL HOUSING ACT [ Co-operate with the FEDERAL HOUSING ADMINISTRATION and beat the rent gbme . .. . ALLEN SHATTUCK ——Since 1898—— Telphone 62 e————————————————————————————— Celotex Reduces your fuel bills, and beautifies your home. We carry a complete stock for immediate delivery. —ALSO—— Celotex Plank Celotex Tile TEMPERED HARDBOARD—HARDBOARD TILE PLASTERBOARD—FIR FLYWOOD DOORS—WINDOWS—GLASS—PAINT Ask for the CELOEX BOOK Juneau-Young Hardware Co. FOR EVERYTHING IN THE BUILDING LINE, SEE G. E. KRAUSE Dealer in Heavy Building Materials GENERAL CONTRACTOR WE ARE DEALERS AND CARRY IN STOCK— Fireplace Ashdumps Firebrick Fireclay Pressed Brick (for mantels) Hearth Tile Tike for Floors and Walls Asbestos Wall Tile Stucco Wire Reinforcing Steel, 1-4 to 1 1-4 inch Wire Mesh Reinforcing Expansion Joints Waterproofing, integral and E E i i QUALITY LUMBER ALASKA SPRUCE—HEMLOCK—CEDAR PROMPT SERVICE LUMBER FOR EVERY PURPOSE Build with WOOD for PERMANENCE Juneau Lumbér Mills Portland Cement Finishing Cement Early Setting Cement Stucco Cement Fiber (Hair) Hardwall Plaster Finishing Plaster Metal Corner Bead Wire Fabric Lath Metal Lath Wood Fiber Lath Wood Fiber Wall Board Lump Lime E = = = = § Hydrate Lime brush coafi: Jon Galvanized Thimbles, 6, 7, 8, Johns-Manville Asbestos 10, 12-inch Shingles PHONE 358 Fireplace Dampers Finishing and Mortar Sand Fireplace Cleanout Doors Soft Sheet Copper WE MANUFACTURE AND SELL— Concrete Chimney Bases ed usefulness of only 40 years, LION'S SHARE and office buildings of ordinary construction are genmerally out- moded at 30 years. ,Orleans, according to the Times-. to $667,000,000 during the year, | Picayune of that city, the sale of while the total for the year ending | 625,000,000 worth of property re- April 1, 1935, was $562,000,000, a so much real estate from the gain of nearly 19 per cent. that New Orleans is cur- | ANYBODY'S BUSINESS The New York Herald Tri- bune finds home building at a high level in the metropolitan Concrete Sewerpipe, sizes 4 HERE AND THERE d inches and up Concrete Culverts Real estate activity apparently |rentiy to supply the demand BEST BET DOWN IN DIXIE New York area. Figures com- H Concrete Sewerpipe Ys, Tees Footing Blocks confines itself to no specific section | for prop: The sing family dwelling | Twenty-six new residences, 10| piled by P. A. Andrews, Vice- apartment houses, eight hotels, a and Ells; all sizes Building Blocks and Brick of the standard masonry unit of this country. The Philadelphia Inquirer, for example, notes that FARMERS PRIMPING has the slowest cbsolescene rate of any type of structure in use |a number of miscellaneous s'.ruc~! Presideni in charge of building materials for Johns - Manville 1 Concrete Chimney Blocks, s 1936 building operations in the today, according to Herbert U. |tures built during May boosted the | Corporation, show that 17 per | firesafe and well made Ein ks Silli and Lintals Quaker City have gained close to| The New York World-Telegram,| Nelson, Secretary of the Na- |total value of construction at| cent of all residential construc- § Concrete Chimney Tops Burial Vaulté $8,000,000 over the corresponding in an Associated Press report, notes ticnal Association of Real Es- | Miami Beach, Fla, this year to| tion in this country is being H = period of 1935. The St. Louis Post- that Iowa's farmers are back in the tate Boards, in the New York | $4018344, according to a report| carried on in the New York { Dispatch notes that in St. Louis a money. All over the State where| Herald Tribune. This fact, he |of Building Inspetcor J. J. Farrey district—that is, New York and i brisk demand is seen for suburban “the tall corn grows” farmers are said, was revealed by a recent | 'This compares with construction| its environs. Between January | G E K R A u s E small residences. The Detroit News painting, remodeling, and replacing | real estate survey. The single- | of the lar period of 1935 valued | 1 and March 31 the volume of A o o publishes a report by Walter W. cbsolete buildings in the broadest| family dwelling has an expected at $3, 50. Incidentally May's| residential construction in the IR I Bose, President of the National As- sociation of Real Estate Board, in which he predicts a long-term up- swing for real estate, Down in New | I OO0 and most virile modernization cam- paign carried on there in 15 years. | Sales tax reports reveal that'Iowa merchants recorded sales amounting useful life of approximately 50 years. The modern skyscraper of steel frame and fire-resist- ant constuction has an expect- volume of construction was the | highest for any May during the city’s history. The average cost per 'residence during May was $13262.1 New York metropolitan area reached $21,015,000, or a gain of 84 per cent over the same pe- riod in 1935. : % e ] ! A Y