Welcome to your next opportunity! This contemporary 2-bedroom, 2-bath home boasts breathtaking views of Horace Lake and comes with the shared right way to lake (see deed) , perfect for lakeside living enthusiasts. Featuring a striking vaulted ceiling and open-concept layout, the great room serves as the heart of the home, drenched in natural light and brimming with potential for customization. A detached garage with space for up to 4 vehicles offers exceptional utility, and the property is equipped with additional RV hookups, making it a versatile asset for various needs. Whether you’re a homebuilder, investor, or flipper, this property is loaded with possibilities for creative development or a lucrative short-term rental venture. With the home being sold as is and currently lacking an occupancy permit, this project offers an exciting canvas to bring your vision to life. Note: The property is not financeable for standard conventional financing in its current condition and may require third-party approval. Don’t miss your chance to transform this unique lakeside gem into a stunning retreat or an income-generating investment!
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5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $260,000 | $260,000 | $260,000 |
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 | $447 | $447 | $447 |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $1,752 | $1,728 | $2,193 |
Total Monthly Payment | $2,274 | $2,250 | $2,715 |
* 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.