Welcome to The Grove, a secluded condo-hotel set on the shores of Lake Austin. Turning into the community from Avalon Road, you will be pleasantly surprised driving to the community, with its palm tree lined streets and the water park, with the condo buildings towering overhead. This is a community that needs to be seen to be appreciated, especially with how much there is to do at the resort! Some of the attractions include the Surfari Water Park with FlowRider; pier on Lake Austin; Escape Spa; Flip Flop's Family Fun Center, and the Kids' Activity Center! This is a Good Neighbor Hotel® and offers daily shuttle bus service to Walt Disney World®, SeaWorld, and Universal Orlando! Let's discuss more about this 2-bedroom "Birch" unit! When you step through the door, you enter directly into the living space. The bedrooms are split, with the master suite on one side of the living space, and the other bedrooms on the other side. The unit features in-unit laundry, with full-size washer and dryer. The kitchen is well-equipped with all major appliances, so you can certainly cook here if desired. The living space is spacious, and also includes a dining area. Through the living space, you can enter the balcony which overlooks the one of the ponds at the resort. The master suite includes an ensuite bathroom that has a garden tub, separate tile shower, and dual vanities. There is one more ensuite bedroom on the opposite side, which also has a very large walk-in closet and an additional sliding glass door leading out to the balcony. This condo is turn-key and all bookings transfer when the unit is purchased. This is truly a hands-off investment, with on-site management handling everything for you. You can be making $ on the day of closing! Financial statements are available! Please note that this is a condo-hotel, so you could not live here full time due to zoning restrictions. No owner is permitted to live on-site and is only allotted for up to 179 nights in a calendar year usage. Owners cannot stay at the property more than 179 nights whether consecutively or split between different lengths of stay throughout different months. Condo Docs allow for up to one domesticated dog or cat in a non-aggressive breed that is 15 pounds or less to stay while the owner is here. As far as the hotel operations run, we do not allow hotel guests to bring pets (not a pet friendly hotel operation). Owners are permitted up to 30 nights Guest use in a calendar year. Anything additional to 30 nights results in a resort subsidy fee paid and deducted by the owner’s statement. Buyer will inherit the rental agreement as the seller is part of the rental program with the on-site management company. The agreement does not terminate upon the sale, transfer of title or conveyance of a property.
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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 | $217,600 | $217,600 | $217,600 |
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 | $534 | $534 | $534 |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $1,484 | $1,446 | $1,851 |
Total Monthly Payment | $2,093 | $2,055 | $2,460 |
* 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.