This home has a pedigree that has been meticulously documented by the City of Melbourne. It was built in 1925, at the height of the roaring twenties, by Fred Houghton and Oscar Elliot. The lavish architectural design followed the Mediterranean Revival style. Throughout the historic home you will see dark wood floors, wrought iron accents, white stucco and walls. Vaulted ceilings were not a common occurrence in the 1920's, however with no expense spared, luxury was accented throughout this marvelous property. The 4 bedroom, 2 bathroom home has a long history and is known as the ''Sea Lounge''. Upstairs are two bedrooms with a full bath and wonderful views. There are two additional bedrooms and a full bathroom on the main floor. The property has been well maintained through the last 100 years. The clay barrel tile roof was replaced in 2017, and the flat roof sections were sealed in 2024. The pool and spa were installed in 2007 with modern technology, all while following the historic styl
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William Raveis Mortgage, LLC
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Melissa.Cohn@raveis.com
NMLS Mortgage Loan Originator ID 16953
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $499,920 | $499,920 | $499,920 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.875% | 6.875% | 5.875% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.352% | 7.042% | 6.160% |
Monthly Tax Payment | $588 | $588 | $588 |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $3,284 | $3,284 | $4,185 |
Total Monthly Payment | $3,964 | $3,964 | $4,865 |
* 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.