This large 2-family home, circa 1888, in the Hamlet of Hillsdale is a rare find. The house consists of 2, 500+ sq. ft. of living space, with five bedrooms and three baths, (public records show 4 bedrooms/2 baths) The 0. 25-acre property is part of the Hillsdale municipal septic system, with a nice deep back yard that boast two, 2-car garages. Historically approximately 1940's housed a bakery and then later, approximately 1960's housed a general store. Each apartment has separate heat/100-amp circuit breakers. The wall studs go from basement to attic in one piece. Roof done in 1987. Updates across the board will be required. With housing in such short supply, the rehab of these units will produce big dividends. If you are in the market for an income property, or perhaps a spacious home, this is an opportunity you need to see.
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William Raveis Mortgage, LLC
Phone: 347.223.0992
Sarah.Alvarez@Raveis.com
NMLS Mortgage Loan Originator ID 1880936
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $127,200 | $127,200 | $127,200 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.000% | 6.990% | 6.250% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.477% | 7.159% | 6.498% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $846 | $845 | $1,091 |
Total Monthly Payment | $921 | $920 | $1,166 |
* 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.