*Property Description: Exceptional Development Opportunity** Discover an unparalleled opportunity with this prime piece of land, complete with approvals for four duplexes. Each duplex can accommodate an attached or detached Accessory Dwelling Unit (ADU), provided the main house is owner-occupied, maximizing your potential for rental income or multi-generational living. This property offers a diverse range of possibilities: build single-family homes or duplexes, convert to condominiums, or explore other creative development options. All necessary permits have been secured from the town and state, ensuring a smooth transition from planning to construction. The land is already cleared to the limits of cut, adhering to road clearing regulations, allowing you to focus on building. With interest rates declining, the housing market is set to heat up, leading to a growing demand for rental properties each year. This is a rare chance to invest in a limited supply of land, making it an ideal opportunity for builders and families looking to create a thriving community. Don't miss out on this fantastic investment!
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5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $343,920 | $343,920 | $343,920 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.000% | 7.125% | 6.250% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.330% | 7.295% | 6.538% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $2,288 | $2,317 | $2,949 |
Total Monthly Payment | $2,363 | $2,392 | $3,024 |
* 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.