Experience the best of South Florida living with this incredible investment or multi-generational home opportunity in vibrant West Palm Beach! Nestled less than five minutes from the iconic Singer Island beaches, Lake Park Marina, and Peanut Island, this property offers unbeatable convenience for outdoor enthusiasts and beach lovers alike. Featuring a total of 1, 603 square feet, this property boasts two fully equipped units: a spacious 3-bedroom, 2-bathroom main house, and a private 1-bedroom, 1-bathroom rear unit with its own separate entrance, full kitchen, and washer/dryer--currently generating $1, 600 per month in rental income. The home is outfitted with solar panels for energy efficiency and sits on nearly a quarter-acre with a large backyard perfect for adding a pool or designing an
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Our Executive Mortgage Banker:
Our Insurance Division:
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William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
RVP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 917.838.7300
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 | $359,920 | $359,920 | $359,920 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.375% | 7.125% | 6.125% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.474% | 7.282% | 6.412 |
Monthly Tax Payment | $404 | $404 | $404 |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $2,486 | $2,425 | $3,062 |
Total Monthly Payment | $2,965 | $2,904 | $3,541 |
* 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.