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Special Financing Program for Coral Beach Resort
- Beach First National Bank will offer qualified buyers a 75% 3-year Adjustable Rate Mortgage amortized over 30 years. Payments will be fixed for the first 3 years and then adjust monthly based on the Prime Rate.
- Developer will provide a 20% second mortgage, during the 3-year period or until the loan is refinanced, whichever occurs sooner.
Loan Program and Cash Due at Closing
Purchase Price - $ 259,900
Loan Amount - 246,905
Remaining Balance Due - 12,995
Estimated Closing Costs - 3,000
Cash Due at Closing - $ 15,995
Blended 1st and 2nd Mortgage
Interest Rate - 7.00%*
Loan Points Paid by Buyer 0
Loan to Value 95%
Monthly and Annual Payment Estimate
Loan Principal & Interest Payment - $ 1,423.50
Property Taxes - 267.00
HOA Dues Including Insurance - 581.00
Total Monthly Payment - $ 2,271.50
Total Annual Payment - $ 27,258.00
* Rates are subject to change based on market conditions.
To Pre-qualify Contact:
Harry Bates – Beach First National Bank
(843) 839-7788
hbates@beachfirst.com
For a limited number of units, the Developer in conjunction with Beach First National Bank will offer qualified buyers 95% financing on their purchase:
· 75% 3 year ARM 1st Mortgage
· 20% 2nd Mortgage
· Effective Rate Below 7%
Coral Beach offers extra-large rooms , beautiful beachfront views, and the property is centrally located near the airport and Coastal Grand Mall. Coral Beach was recently named the #1 family beach resort on the Grand Strand by the Travel Channel.
Amenities at Coral Beach include a full service bowling ally, comedy club, restaurants, lounge, gift shop and convenience store, reception/lobby, game room, fitness center, children's activity center, meeting facilities, guest laundry, Men's and women's saunas, free tennis privileges, indoor and outdoor pools, lazy rivers, tot pools, hot tubs, and sunning decks.
* Rates subject to change. This offer is not a condition of the purchase of this unit. Purchaser is in no way obligated to accept or participate in this offer.
CORAL BEACH RESORT
SPECIAL MORTGAGE OFFERING
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