Fabulous opportunity for a lovely sky home here in the very sought after Ormondy Condominium. This corner unit sits on the preferred south side of the building with a wide open view of the Atlantic Ocean. Lovely interior fixtures and decor set the stage for this beach home in the sky with an oceanfront island kitchen that opens onto the great room and eventually out onto the expansive lanai where the sounds and the breezes of the ocean are a constant pleasure. The primary suite offers views of the Ocean and direct access to the patio through a sliding door with screen that can be left ajar to listen to the waves lap the shore. A secondary guest room with renovated bath has a very large closet that the current owners use as a third sleeping quarters when overflow guests arrives. These units were designed and constructed to live like traditional homes with oversized closets, a generous indoor laundry room, foyer with coat closet and large covered verandah instead of standard balcony.
The Ormondy is unique due to the fact that it is one of very few oceanfront buildings in Ormond Beach that allows weekly rentals. This property has been selectively rented when the owners were not enjoying it providing a supplementary income to cover expenses. The property has onsite management, underground parking, a lovely ocean front pool and a spectacular penthouse level oceanfront club room that spans the entire easterly section of the top floor providing jaw dropping vistas.
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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 | $420,000 | $420,000 | $420,000 |
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 | $428 | $428 | $428 |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $2,794 | $2,791 | $3,542 |
Total Monthly Payment | $3,314 | $3,311 | $4,062 |
* 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.