Under Construction. Brand New Construction. FIRST TIME HOME OWNERS / OCCUPANTS ONLY INVESTORS ARE NOT ELIGIBLE!!!! LAND LEASE OWNERSHIP. NEW CONSTRUCTION NEVER LIVED IN. Home is part of an affordable housing program has income restrictions and 99 year land lease for $25 a month ($300 annually). Down payment assistance is available for qualified buyers. 3 bedroom 2 bath great room plan. This program is to assist buyers become home owners that have limited income. All the same privileges of ownership at a lower cost, only real restriction is income limits the AMI chart attached. Please reach out to discuss income limits Buyer/Buyers agent responsible for verifying all room measurements. OWNER OCCUPANTS ONLY INVESTORS ARE NOT ELIGIBLE!!!! ALL ROOM MESAUREMENTS ARE APPORXIMATE AND SHOULD BE VERFIED BY THE BUYER'S AGENT OR BUYER!!!
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Our Executive Mortgage Banker:
Our Insurance Division:
$278,613
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
RVP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 917.838.7300
Melissa.Cohn@raveis.com
NMLS Mortgage Loan Originator ID 16953
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $222,890 | $222,890 | $222,890 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.000% | 6.990% | 5.990% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.477% | 7.159% | 6.296% |
Monthly Tax Payment | $0 | $0 | $0 |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $1,483 | $1,481 | $1,880 |
Total Monthly Payment | $1,558 | $1,556 | $1,955 |
* 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.