A rare opportunity to own a fabulous 2-bedroom unit in the highly desirable Braemoor Commons, Salem’s premier over-55 condo development. Thoughtfully designed with high ceilings, hardwood floors, and elegant coffered ceilings, this home exudes charm and sophistication. Warm and inviting, it offers the perfect cozy retreat for a single occupant or couple seeking a comfortable lifestyle. The kitchen features granite countertops, stainless steel appliances, and is complemented by a large dining area with tasteful wainscoting. Step out onto your private balcony overlooking a beautifully manicured courtyard, offering a tranquil retreat. The spacious primary suite boasts a luxurious bathroom with a soaking tub, double vanity, stand-up shower with a bench, and a large walk-in closet. Additional conveniences include garage parking with elevator access, a storage unit, and an impressive clubhouse that features a full kitchen, large gathering room, full gym, and a theater room. A dream lifestyle awaits at Braemoor Commons, where comfort and elegance meet in perfect harmony.
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William Raveis Real Estate
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5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $383,920 | $383,920 | $383,920 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.000% | 6.875% | 5.990% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.551% | 7.042% | 6.160% |
Monthly Tax Payment | $487 | $487 | $487 |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $2,554 | $2,522 | $3,238 |
Total Monthly Payment | $3,116 | $3,084 | $3,800 |
* 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.