INVESTOR SPECIAL! 2/1 single-family house with a den on a large spacious 8, 250 SF corner lot. Option 1, Under the Miami-Dade Workforce Housing Development Program, it can be turned into a duplex-style structure by building a second unit or building a brand-new duplex in its place. Each unit will have its own folio number and can be sold individually. Option 2, rehabbing the existing house and adding an Accessory Dwelling Unit (ADU) which can be attached or detached, rented out and must comply with setback requirements. This property is only 10 minutes away from Miami International Airport and the future Miami Freedom Park providing additional job opportunities. Inspections and due diligence must be completed before contract signing. Serious cash buyers only, please. Call/Text Listing agent
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Contact@raveis.com
RVP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 917.838.7300
Melissa.Cohn@raveis.com
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 | $319,920 | $319,920 | $319,920 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.250% | 6.990% | 6.250% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.582% | 7.159% | 6.518% |
Monthly Tax Payment | $571 | $571 | $571 |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $2,182 | $2,126 | $2,743 |
Total Monthly Payment | $2,828 | $2,772 | $3,389 |
* 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.