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Subject: Matlacha Property - Renovation Funding Options & Details
Welcome to your dream project in Matlacha, Florida! This 2-bed, 2-bath home (1, 154 sq ft) is a renovator’s paradise with sailboat access, a private dock, and kayak launch. Located in a vibrant, artistic community, it’s perfect for a coastal retreat or investment.
The property needs some rehab, offering a blank canvas for customization. Key updates include a metal roof, impact windows, a tankless hot water heater, and an elevated 2023 A/C unit. Recent upgrades: quartz countertops, 2023 lanai ceiling/screens/door, 2023 carport ceiling, and 2022 exterior paint. Note: Sellers make no warranties on appliances (e. g. , washer/dryer untested).
Several funding options exist for renovating disaster-affected properties: Disaster Loans 203(h), FHA Renovation Loans 203(k), and Conventional Renovation Loans. Nearby amenities include Bat House Park and Publix at Coral Shores.
Don’t miss this chance to create your Florida oasis! Schedule a viewing today.
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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 | $384,000 | $384,000 | $384,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.500% | 6.990% | 5.875% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.095% | 7.141% | 6.152% |
Monthly Tax Payment | $531 | $531 | $531 |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $2,427 | $2,552 | $3,215 |
Total Monthly Payment | $3,033 | $3,158 | $3,821 |
* 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.