WINTER 24/25 RENTAL. Welcome to 8 Franklin St #4, a charming and centrally located studio property in the heart of downtown Newport, Rhode Island. This exquisite residence offers unparalleled views of the Newport waterfront, providing a picturesque backdrop for your stay. Property Highlights Include: Located directly downtown, within walking distance of Newport's renowned attractions, restaurants, and entertainment. Enjoy stunning vistas of the Newport waterfront, creating a serene and inviting atmosphere. All utilities are included in the rental price, with a monthly cap. This ensures a hassle-free living experience without unexpected expenses. The property is available for rent from September 2024 through May 2025, making it an ideal option for those seeking a long-term residence during this period. This residence has become a favorite among war college and military personnel due to its convenient location, amenities, and the tranquility it offers. Don't miss the chance to experience the best of Newport living at 8 Franklin St. Contact us today to schedule a viewing or for more information about securing this exceptional rental property for your stay from September 2024 to May 2025.
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Our Executive Mortgage Banker:
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William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 401.474.4879
Whitney.Rugg@raveis.com
NMLS Mortgage Loan Originator ID 7654
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $1,680 | $1,680 | $1,680 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.375% | 6.990% | 6.250% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 8.011% | 7.171% | 6.538% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $12 | $11 | $14 |
Total Monthly Payment | $87 | $86 | $89 |
* 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.