1500+ square foot mixed use building with a 2-bedroom apartment upstairs and a commercial space on the lower level. Live upstairs and convert the lower level to additional living space, a separate apartment, retail space or art/yoga space maybe. . . a blank canvas. The 2 bedroom apartment which consists of an open concept living room/kitchen area, the two bedrooms and a full bath is located on the second floor. Upstairs bath was renovated 10-12 years ago. The seller has priced the home $60, 000+ below full market value in anticipation of the renovations that will be needed. Cash or 203K loan believed to be required. Buyer's agent to confirm. Any inspections are for informational purposes only - no discount will be taken off of a negotiated price. Septic is on adjacent parcel and is accessible with a deeded easement. Functionality of the mechanicals, plumbing or septic is not guaranteed by the owner and will not be corrected prior to transfer of title. The home is being sold AS IS WHERE IS.
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William Raveis Real Estate
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VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 347.223.0992
Sarah.Alvarez@Raveis.com
NMLS Mortgage Loan Originator ID 1880936
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $100,000 | $100,000 | $100,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.125% | 6.125% | 4.990% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.483% | 6.273% | 5.268% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $608 | $608 | $790 |
Total Monthly Payment | $683 | $683 | $865 |
* 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.