29 acres of raw land on the corner of Loon Meadow Drive and Lover's Lane which sit high- between 1, 500-1, 600 feet; nearly the highest elevation in Norfolk - and dry with potential views. The parcel is zoned rural residential and is currently held in public act 490 forest which allows forested land of 25 acres or more to be assessed at its use value rather than its fair market for tax purposes. There is approximately 2, 600 feet of road frontage with access at the northeast corner as well as along the northern (~1, 000 feet) and western boundaries (~1, 600 feet). The land is forested and gently sloping with some white pines but dominated by hardwoods including red and sugar maple, yellow birch, black cherry, red oak, American beech, and striped maple. A streambed divides the property from the southwest to northeast corner. The previous owner did some logging to remove ash and there is an old roughed-out logging road and culvert to cross the stream. There is evidence of past clearing with stones piled by a farmer or shepherd to clear fields approximately 200 years ago. Located in the lower Berkshire hills, a region of SW Massachusetts and NW Connecticut, representing the southernmost end of the Berkshires and green mountains which are ecologically the same. Private and nestled between conserved land on two sides, yet only 2 miles from the village center by a quiet country road.
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William Raveis Real Estate
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William Raveis Mortgage, LLC
Phone: 203.980.8025
Frank.Kolb@raveis.com
NMLS Mortgage Loan Originator ID 81725
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $176,000 | $176,000 | $176,000 |
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% | 7.171% | 6.518% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $1,201 | $1,170 | $1,509 |
Total Monthly Payment | $1,276 | $1,245 | $1,584 |
* 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.