This owner dreamed of living a simple life far from the traffic and cramped conditions of the city, so he purchased a nice eight acre parcel high in the hills of Newfane, not far from Sunset Lake, here he cleared a nice level meadow, drilled a well, placed solar panels and built two cabins, three sheds and a privy. He heated the cabins with wood and powered his well pump, lights and ham radio with solar. He brought electric power to a shed near the road to run a small shop there and he happily lived the life of his dreams here for many years. With the passing of time this man came to understand that he can no longer live in the hills of Newfane, he would like to pass this property on to someone with a similar desire. The next owner should know that the solar panels will need to be replaced, the forest, now trying to reclaim the clearing will need to be tamed, and the buildings will need a thorough clean out and work to make this dream a reality!
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William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 203.415.2989
Brian.Skelly@raveis.com
NMLS Mortgage Loan Originator ID 793093
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $111,200 | $111,200 | $111,200 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.125% | 6.990% | 6.250% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.867% | 7.159% | 6.538% |
Monthly Tax Payment | $143 | $143 | $143 |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $749 | $739 | $953 |
Total Monthly Payment | $967 | $957 | $1,171 |
* 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.