MOTIVATED SELLER !Dream of sunny beach days and enjoying all that the shoreline lifestyle offers? Then this one is for you ! Fully turn-key, this seasonal cottage is directly bordering Hammonasset Beach State Park, only a short walk away. This cottage has enough room to sleep eight or more people comfortably in a cozy environment. Enjoy the park's two miles of sandy beaches, secluded coves, picnic areas and wildlife sanctuary with 936 acres of protected waterfront lands all easily accessible from your quaint cottage via a direct walking path and a bike path. Large shed for hosting parties and extra storage along with a hot tub and new firepit for those beautiful summer nights! Enjoy your morning coffee with the large fenced in wrap around deck and after those sandy beach days you can rinse off in the solar outdoor shower with privacy screen. This purchase MUST be all cash or personal/home equity loan and is seasonal April 1st-October 31st. Cottage is on leased land and does not qualify for conventional financing. This cottage is the perfect summer oasis and amazing alternative to RV living. Do not miss this opportunity to make this your next home!
Type | Level |
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Primary Bedroom | Main |
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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 | $183,920 | $183,920 | $183,920 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.250% | 6.990% | 6.125% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.655% | 7.146% | 6.412% |
Monthly Tax Payment | $83 | $83 | $83 |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $1,255 | $1,222 | $1,564 |
Total Monthly Payment | $1,413 | $1,380 | $1,722 |
* 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.