Welcome to the Beach Club, one of South Downs most sought-after associations. South Downs is a waterfront gated community with 4000 feet of lake front on Paugus Bay. The Beach Club is the only association in South Downs that offers a private beach and beach house for its 19 owners enjoyment. This well-maintained unit offers an exceptional floor plan with a wide-open great room, dining area and kitchen that lead to the screened in porch for three seasons of entertaining. There are 2 primary suites- one on the main level and one of the second floor, both with walk in closets. In addition, this home has two more bedrooms and a full bath in the lower level with a 16 x 21 recreation room. Bring your finishing touches to this sought after location and enjoy lake life living. South Downs is a recreation community with amenities that include a private beach & club house, beach front recreation greenbelt, boat club, tennis/pickle ball, basketball courts, walking trail, conveniently located to Gun Stock, BNH Music Pavilion, Lakeport Opera House, Colonial Theater, snowmobile trails, restaurants & all the amenities that the lake region offers.
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5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $628,000 | $628,000 | $628,000 |
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 | $848 | $848 | $848 |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $4,178 | $4,174 | $5,296 |
Total Monthly Payment | $5,118 | $5,114 | $6,236 |
* 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.