This approved development opportunity is to construct 90 new residential units of free-standing, 6-story building with covered parking. The approval from the city of Nashua has been received for the proposed site plan. The site is mostly level with a slight slope. Building B provides for 34 garaged parking spaces underneath the 5 stories of residences. The site package would include: comprehensive set of MEP (Mechanical, Electrical, Plumbing) architectural drawings, all demolition work, environmental work, stormwater, parking lots, which include paving, striping, curbs, walkways, stop signs completed. Final landscaping is not included. The well designed site plan is visually pleasing and will provide a comfortable living environment for the residents. With a view of the Nashua River and direct access to the Nashua Riverwalk trail and pedestrian bridge, this location provides for commuting convenience with easy access for residents to enjoy the outdoors. The proposed building is located in the downtown area of the second-largest city (91, 000 people) in New Hampshire, featuring living with no sales or personal income tax and just over the Massachusetts border, within a 50 minute drive from Boston. This community has high demand for housing, growing demographics and current vacancy rates under 0. 6%. Nashua is home to many of the largest employers in the state such as BAE Systems North America, Southern New Hampshire Medical Center, St. Joseph Hospital and Hewlett Packard.
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5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $2,268,000 | $2,268,000 | $2,268,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 5.500% | 6.375% | 5.875% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 6.821% | 6.474% | 6.036% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $12,877 | $14,149 | $18,986 |
Total Monthly Payment | $13,002 | $14,274 | $19,111 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.