Welcome to Prescott Point- Portsmouth, Rhode Island's premier residential community.
Situated on 106 scenic acres, Prescott Point offers you the opportunity to build a brand new home that features all the conveniences of urban living surrounded with the intrinsic beauty of coastal New England. Water views, bay breezes and spectacular sunsets are some of the many appealing qualities that grant acclaim to the Prescott Point lifestyle. Prescott Point's proximity to historic Newport, Providence and T. F. Green Airport place it in the heart of the region's cultural, business and leisure centers. Enjoy all that Prescott Point has to offer. In this phase the clubhouse and pool will be completed and we couldn't be more excited to add this to our community. All homes must have a footprint of 1800 square feet on less, approximately a max of 3000 square feet in a two story home. Lots will be ready to close Nov 1, 2024. We can't wait to see the custom home you will build. If you need help with a builder we do have a pre screened builder ready to create your dream home. The final price of a custom home in your design will be determined by client selection and actual square footage. These pictures are not of the home being offered they are samples of other homes built by this builder. They would help you design and bring your design to life in your custom home.
Our family of companies partner in delivering quality services in a one-stop-shopping environment. Together, we integrate the most comprehensive real estate, mortgage and insurance services available to fulfill your specific real estate needs.
Our family of companies offer our clients a new level of full-service real estate. We shall:
To learn more about our credentials, visit raveis.com today.
Our Executive Mortgage Banker:
Our Insurance Division:
$1,100,000
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 Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $880,000 | $880,000 | $880,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 5.000% | 5.875% | 5.625% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 6.963% | 5.983% | 5.805% |
Monthly Tax Payment | $0 | $0 | $0 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $4,724 | $5,206 | $7,249 |
Total Monthly Payment | $4,849 | $5,331 | $7,374 |
* 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. The Total Monthly Payment does not include the estimated HOA/Common Charge payment.