Unlock the potential of this unfinished home! It's already gutted and ready for finishing construction. Whether you’re an investor or looking for your dream home project, this property presents a unique opportunity. The home is in need of significant rehab and lead abatement (with much of the initial demo already done), making it ideal for those familiar with renovation projects. Featuring 3-4 bedrooms (possible first floor primary), 2 bathrooms, first-floor laundry, great storage in the basement and barn and plenty of room for a growing family. The furnace & oil tank have been inspected, and the water and sewer is public. The structure offers a solid foundation and plenty of space to finish the interior as desired. With lead remediation required for both the home and barn, it is important to note that a full professional abatement must be completed, however some abatement has already been done. Located in the quaint town of Farmington, this property has the potential to shine with the right improvements. The expansive yard adds to the property's appeal. Take advantage of this investment to create something truly special! Please note this property will not qualify for conventional financing.
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5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $127,920 | $127,920 | $127,920 |
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 | $308 | $308 | $308 |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $862 | $850 | $1,079 |
Total Monthly Payment | $1,245 | $1,233 | $1,462 |
* 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.