Incredible development opportunity located in Silver Palm Miami, Fl with 13 folios for sale, a total of 77, 061 SqFt. The development site is just south of Culter Bay, minutes from the expanding Southland Mall/SouthPlace City Center. These (13) folios can be purchased with an assumable debt in the amount of $810, 000 at 7. 6% interest only payments over a 36-month term. The financing terms being offered on these (13) lots make this an unbelievable rare opportunity. Other lots on the block are also available for purchase directly from the owners. Those lots would have to be negotiated separately. In addition, the owners of SW 122nd PL are willing to contribute to the cost of implementing infrastructure on a pro-rata basis, thus lowering the cost of getting these lots site-built ready.
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Our Executive Mortgage Banker:
Our Insurance Division:
$1,499,000
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 Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $1,199,200 | $1,199,200 | $1,199,200 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.750% | 6.625% | 6.625% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.532% | 6.723% | 6.806% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $7,778 | $7,679 | $10,529 |
Total Monthly Payment | $7,903 | $7,804 | $10,654 |
* 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.