Envision building your dream home on this picturesque 2. 10-acre parcel in the highly sought-after Saunderstown. As Lot 3 in a charming, three-lot subdivision, this property features a beautiful stone wall along one side and offers direct access to River Road, perfect for peaceful walks or invigorating jogs along the quiet, private road. With a 4-bedroom septic system already installed, your home-building adventure can begin smoothly. Underground electric and cable connections will soon be in place, ensuring modern conveniences are readily available. What truly sets this property apart is the seller's option to offer it as a new construction, giving you the chance to move into a custom-designed home without the stress of building yourself. The location provides the perfect balance of tranquility and convenience, with easy access to major routes like Rte. 1 and commuter rails to both Boston and New York. Nearby, enjoy the beauty of South County's beaches, the charm of Newport, the vibrancy of Providence, and proximity to URI. This is more than just a parcel of land it's a rare opportunity to create the perfect home in a serene, scenic setting. With the essential groundwork already complete, this prime piece of Rhode Island real estate is ready for your vision to take shape. Don't miss your chance to make it yours! GPS 2860 TOWER HILL ROAD
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Our Executive Mortgage Banker:
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William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 401.474.4879
Whitney.Rugg@raveis.com
NMLS Mortgage Loan Originator ID 7654
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** | 7.000% | 6.990% | 6.250% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.477% | 7.159% | 6.498% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $2,128 | $2,126 | $2,743 |
Total Monthly Payment | $2,203 | $2,201 | $2,818 |
* 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.