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About Portland observer. (Portland, Or.) 1970-current | View Entire Issue (April 6, 1989)
Page 8 Portland Observer A p ril 6,1989 Need A Family Doctor? Jew el I. ( raw tord M l), announces the opening ot T ill OPTIMUM I -AMU Y HEALTH (LIN K »"22 \ I Glisan Street Portland. O regon 9 -2 1 3 V TREE io-m inute get-acquainted visit tn appointm ent V Evening hours available * Easy access off 1-8» (easthound. take 38th Ave exit: w estbound, take »3rd Ave. e x it) V ( lose to Providence Medical ( e n te r V M em ber of selected health plans V N utrition evaluations Please call to schedule appointm ents 232-5879 ( omfrietc m edical can’fo r children tinti a d u lts Grace Collins Memorial Center Day Care “Since 1952 ' Kindergarten » Pre-School 'Latch Key Program Children 6 wks. to 11 yrs. • Breakfast • Hot Lunches •Snacks Mon-fri 6:30 am • 6.-00 pm Call 281-6930 128 N.E. Russell St. 4 Y ear Olds - M aking Cookies Grace Collins Memorial Center Day Care 5 Year Olds - Reading First G rade Books PORTLAND OBSERVER “ The Eyes and Ears of the Community” 288-0033 Get a good taste of Beaverton Lodge this Saturday. Not sure moving is your cup of tea? Maybe all you need is a taste of Beaverton Lodge. A deliciously decadent taste...of dessert and complimentary English tea. This Saturday afternoon, any time between 1 and 4 p.m. While you're here, you'll be able to take a leisurely stroll through the Lodge. Look into our spacious one and two bedroom apartments—the ones with patios and decks. Check out the pool and health club. Hear about our homecooked meals and special activities. Get a good taste of what living here is really like. All for one reasonable monthly rent. Sound like we're pouring it on too thick? Maybe. But so far more than 100 residents have come for a taste...only to discover that Beaverton Lodge really is their cup of tea. OREGONIANS...MAY SOON BE ABLE TO BUY HOMES No Res. Nolbints. No Closing Costs. More than 600 below-median income Oregonians thought the state may soon be able to buy homes, with the help of a state program offering $26.7 m illion of low er interest rate m ortgage money. Beginning May 3,1989, the Oregon Housing Agency will be offering 27- year mortgage loans at a fixed rate of 8.35% . Loans will be available on a first-come, first-served basis through 21 participating lenders. These funds will be available through December 1989, or until funds are gone. “ We expect this program to be extrem ely popular. The 8.35% interest rate is nearly 3 points below the going conventional 30-ycar fixed loan rate,” according to Kathryn Eustrom, manager of the Housing A gency’s single-family programs. “ This program will help address tw o o f the housing problems confronting O regonians today. The low interest rate makes hom eow nership a possibility for a segment of our population who otherw ise face housing costs that are unaffordable. In addition, by enabling th e se fa m ilie s to m ove into hom eow nership, the program frees up rental properties for other fam ilies’ use at a time when rentals are hard to come b y .” The loans are available for owner- occupied hom es only. The applicant’s household income must be $28,500 or less per year. The purchase price o f the home must be 65,000 or less for new construction, and $61,650 for existing homes. Federal law requires that applicants be first-time home buyers, or not have owned and occupied a principal residence within the past three years. This requirem ent may be waived if the home being purchased is located in a “ targeted area” . “ Targeted areas” include all of Baker, Clatsop, Coos, Crook, Grant, H arney, Jefferson, Joseph ine, K lam ath, Lake, M alheur, Union, W allowa and W heeler counties; cities o f Ashland, M ilton-Freew ater, M yrtle Creek, Port Orford, Silverton, Turner and Vernonia; Presenting our low fixed-rate Home Equity loans. Right now, were waiving .ill points, fees, and elosing eosts on our low fixed-rate Home Equity loans And that's not all. If your payments are dedueted from your Security Pacific Bank Oregon elieeking account, you get an additional 1 ott the quoted rate. Plus there's no balloon payment. Ofeourse. with an otter this good. Ü SECURITY PACIFIC BANK OREGON Wc want to be vour bank lor life. and portions o f A lbany, Corvallis, Eugene, M edford, Salem and Portland. The home being purchased may be located anyw here in Oregon. Existing homes, new construction, manufactured housing perm anently affixed to an acceptable foundation, condom inium units, or units in a Planned Unit Developm ent (PUD) all may qualify for the program. All loans m ust be insured by the Federal Housing Administration (FHA). The Oregon Housing Agency accepts F H A ’s m inim um dow n paym ent requirem ents o f 3-5% and financing of the m ortgage insurance premium and FH A -allowable closing costs. The loan origination fee and discount points together may not exceed 1.75% of the loan. These funds may not be used to refinance an existing home loan. These funds may not be used in conjunction with the Oregon Housing A gency’s M ortgage Credit Certificate Program. Tw enty-one lenders around the state are participating in the Single-Family Mortgage Program: 1-800-551-FAST In Portland 222-FAST Moikbx-I nd,i\. SAM-HPM to !( ■( V V < : 9 1 The Benj Franklin Federal Savings & Loan: Centennial M ortgage Co; T he C o m m e rc ia l B ank; Commonwealth Mortgage Company; Continental Savings Bank; Crossland M ortgage Corp; Far W est Federal Mortgage Corp; First Interstate Bank o f Oregon; Inland Empire Bank; Key Pacific M ortgage; Liberty Savings and Loan; N orthw est Funding, Ltd.; Pacific First Federal Savings Bank; Plaza M ortgage; Security Bank; Security Pacific Bank Oregon; United Savings Bank; US Bancorp Mortgage Company (US Bank); W ashington Federal Savings Bank; Western Bank; and W illam ette Savings and Loan Association. y Y Measure your rent against this chart: No matter how you stack it, renting simply can t measure up to the advantages of buying a HUD home. Because HUD offers homes with a low 3% down payment. FHA Mortgage Insur ance. And the investment opportunity of buying property that's priced to be an out standing value. Plus, consider this: Over 12 year's time. $350 in monthly rent adds up to more than $50,000. Many HUD homes cost less. To find out more, check our ad in the real estate classified section of your Friday or Sunday Oregonian. Or call your real estate agent. The Oregon Housing Agency is able to make low er-interest rate mortgage loan funds available by issuing tax- exempt mortgage revenue bonds. Current federal law will end new issuances of mortgage revenue bonds alter December 31, 1989. You'll discover that owning your own home isn't such a tall order after all. a For more information on this program, people may call the Oregon Housing Agency at 373-1616, or any o f the participating financial institutions. HUD nr O O -A N TW N T O f HOCWMG ANO URBAM OCVELOFMOO 1‘iMM Hl l> Portland < Nti» i B eaverton L odge Retirement Residence 12900 S.W. Ninth Street • Beaverton • I’lione: 227-7645 Off Main St. between Farmington and Allen Blvd. PORTLAND OBSERVER 1 = 1 The Eyes and Ears of the Community 288-0033 I0 U A I HOUSING Complimentary English Iras will hr v rtw l every Saturday d u n n g lh r Spring o w ktw ih 1 - r , ' 4. tí ' * we can’t guarantee it will be around forever, so apply today Call now tor our current rate and monthly payments. O r visit any ot our convenient banking offices. And if you're wondering how we can offer great savings like these, it's easy. When we say we want to be your bank for life, we mean it. : I I * ** ■*»* -C ■■■% * F * . , *.*»■*•**•• .'7' - •I ♦. '* -‘2 tS)