Discover a rare opportunity in Terra Mar Village, a serene fishing community nestled along the Intracoastal Waterway. Presenting a premier corner lot (185), this property stands as one of the last remaining gems in a quiet, low-traffic cul-de-sac. Unique in its M5 zoning, it offers the flexibility to build a new block home, providing a alternative to traditional manufactured housing. The seller of this cleared, flat lot has been diligent in preparing to build and has obtained a survey and a county-approved variance for reduced setbacks, paving the way for a streamlined building process. Unlike typical community arrangements, owning this lot means no space rent, only a modest amenity fee contributing to the upkeep of luxurious facilities like two saltwater swimming pools, a newly constructed fishing pier with boat slips, a boat launch, and a clubhouse. Spanning approximately 50 x 100 feet, the lot sits outside a flood zone and has demonstrated resilience in recent storms, highlighting its suitability for coastal living. A preliminary site plan is available for a 1, 000 sqft, 2-bedroom, 2-bath block home featuring two driveways and a carport. Imagine your life here, where rocket launches light up the sky, and days are filled with fishing, boating, and embracing the coastal lifestyle. Are you ready to build your dream and immerse yourself in everything this coastal community has to offer? All information intended to be accurate however not guaranteed.
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William Raveis Mortgage, LLC
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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 | $70,000 | $70,000 | $70,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.125% | 6.990% | 5.990% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.456% | 7.171% | 6.276% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $472 | $465 | $590 |
Total Monthly Payment | $547 | $540 | $665 |
* 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.