Investors, Flippers, Rehabbers, Wholesalers and Handy-Homeowners take notice! Best deal on the market in Salem right now! Rare opportunity to find a home that allows for sweat equity in modern real estate! This home has over 2300 sq ft finished right now, but has another 1500 sq ft above ground that can be finished (consult w/ town for permits) to grow this home to nearly 3900 sq ft! Possible In-Law? Huge return on your investment! Even more rare is to find this lovely 1+ acre lot in North Salem on a winding country road, lined with stone walls. You may love the 3 bay garage (tall enough for a lift) or the home's classic layout with 4 bedrooms upstairs. The kitchen is huge for entertaining or having great site lines to the open family room. The layout is amazing for casual dining and cozying up around the fireplace with heat blower. W&D are part of the half bath on the main floor. There is a true primary suite with twin closets, full bath and balcony overlooking the serene backyard. The basement is bone dry with interior French drain, built out to allow the basement to be finished. The metal roof is only 9 years old! HW heater, pressure tank and well pump are less than 1 year old. There are some items that will need your attention like paint, carpet and a kitchen update, but will all be exactly to your particular tastes! Fantastic bones, tons of parking, perfect location, quiet area, close to major routes, minutes to MA border, just needs TLC for huge rewards!
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5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $480,000 | $480,000 | $480,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.000% | 6.990% | 5.990% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.477% | 7.159% | 6.296% |
Monthly Tax Payment | $843 | $843 | $843 |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $3,193 | $3,190 | $4,048 |
Total Monthly Payment | $4,128 | $4,125 | $4,983 |
* 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.