Rare opportunity to own new construction south of route 1 in Madison just under and acre with beach rights. Newly built colonial 3125 sq ft on the first and second floors, with additional 1000 for possible expansion on the walk up 3rd story and an additional 200 square feet finished mudroom off of the garage. This 4 bedroom 3. 5 bedroom home features a primary bedroom on both the first and second floor for added living flexibility. The 6 bedroom septic also provides further options to make this home your own. Among the many features are hardwood floors throughout, 9 foot ceilings, quartz counter tops in the kitchen and high end stainless steel appliances complete with a gas range. Upstairs the main primary features a walk-in closet, large en suite with both a soaking tub and custom shower. The two additional second floor bedrooms are large and share a Jack and Jill bathroom. Finished with a full front porch and professional stonework entrance, this home is part of the Shorelands beach association with a large sandy beach located a short distance and the end of the street. Conveniently located close to the water and also downtown Madison. Professional photos to follow.
Type | Description | Dimensions | Level |
---|---|---|---|
Bedroom 1 | Jack & Jill Bath | 12.0 x 15.0 | Upper |
Bedroom 2 | Jack & Jill Bath | 13.0 x 14.0 | Upper |
Bedroom 3 | 14.0 x 16.0 | Main | |
Family Room | 15.0 x 19.0 | Main | |
Kitchen | 14.0 x 23.0 | Main | |
Primary BR Suite | Bedroom Suite,Full Bath,Stall Shower,Walk-In Closet | 15.0 x 20.0 | Upper |
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5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $1,720,000 | $1,720,000 | $1,720,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 5.625% | 6.375% | 5.875% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 6.795% | 6.472% | 6.032% |
Monthly Tax Payment | $0 | $0 | $0 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $9,901 | $10,731 | $14,398 |
Total Monthly Payment | $10,026 | $10,856 | $14,523 |
* 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.